I think that the new version of this (which will only work on Android 4.0 and higher) is now fairly stable. Emphasis on fairly 🙂
I haven’t gone through the process of putting it on Google Play yet, but you can download it here if you want to and have sideloading enabled on your phone.
If you want to enable sideloading, its in Settings>Security. Scroll down and its the item called ‘Unknown Sources’. Tick this and you can download apps from places other than the Play store (although they haven’t updated the text here and it still refers to ‘non-Market apps’. You can then untick it again immediately afterwards if you want to be all safe and sound again.
As always, I don’t guarantee that it won’t destroy your phone, but I can’t see how it is likely to. It only asks for one permission, which is access to the device storage to store the roster files.