I don't like to start out with criticism, but there isn't much to complain about with this component/plugin, so I'll get it over with so I can talk about the good parts.
Con: Be comfortable with editing the core code - download, edit and upload files. But that is the only drawback to this great resource!
The install went fine - it was a little troubling to install a component then not see it in the component menu. **I should have really read the forum postings linked to in the description before I installed it.
I tested the form entering the correct captcha, then the wrong captcha. When you put in the wrong values, it sends you to a page stating that it was not entered correctly and on paging back, all my info was still stored in the form - yay! I also tested the captcha refresh and it worked fine. The only thing I haven't tried yet is to change the fonts and used it on a VirtueMart form. Tomorrow maybe!
So, with a few manual edits supplied by the creator, this worked great for me.
Thanks!