Agreed. If it was a standard app, you could make a judgement call by looking at the permissions it requests. But it's a root app, so it will have full access to everything on the entire phone, so it's a very different threat.

I risked it an installed it. It didn't seem to work (Galaxy S), and then my phone started running very, very slowly even after I closed it.

I uninstalled. I wouldn't recommend this app at all, and I'm pretty suspicion about what it was doing.