Hmm... Interesting. Does this in effect act as an outlink filter? Part of why I ask is that if someone posts
http://www.website.com it is interpreted as an outgoing link to the Google spiders and most other SE scrapers, but if they come across a dynamic link such as link.php?url=http://www.website.com, it doesn't get indexed as an outlink, and will help your PR.
Is that what this mod does? If not, maybe I'm misunderstanding the purpose of this.