From XDA:
Q. Will this drain my battery life?
A. I don't have any statistics to show the before and after battery usage. However, I personally have not experienced any significant increase in battery usage. It all depends on how long the vibrate duration is and how often you touch the screen.
at this link:
http://forum.xda-developers.com/showthread.php?t=450256
there is a good discussion of the program and he's working on new features as well.