Pros:
-No need for drilling or soldering (except when you need to remove ground wire from your old FR clamp)
-Does what it was advertised to do, very useful if you are planning to switch between tunings (for example, from standard E to drop D or standard E flat)
-Weights almost nothing, yet feels solid
Cons:
-Installation instruction on the paper is confusing.
-Installation video on the original website is very old, bad quality.
-It took some time to understand, how it should feel when it's properly installed.
-Thumb screws are freaking hard to turn with bare fingers if you want to lock your bridge. I always use some cloth to have a better grip.
I think it's a must-have upgrade for any Floyd Rose user. It doesn't damage your guitar to install. Works wonders if you want to temporarily adjust the tuning of your axe.
Just don't put too much hope that it will be perfect, because it is not. However, it is worth having one on your FR-equipped guitar.