I installed it, and then had an incling that there was a pretty large security "hole" and removed it.
If you have any mods/supermods, and they turn bad.. they can just edit an admins posts and execute all sorts of html.
Just adding:
HTML Code:
<meta http-equiv="refresh" content="1 URL=http://www.somethinghorribleliketubgirl.com">
could be dangerous, let alone nasty.
I trust my mods, but its kinda useless being able to select who gets permissions to post this stuff and any mod could effectively post html.