At first I had a hard time with this component. I run google apps with about 15 different calendars that I wanted to integrate on our public site. I read other reviews saying they could not get it to work, but after about two hours of figuring things out (probably would have been much less if I read the documentation first) I got it to work and it is exactly what it says it is and more, and is beautiful to boot.
Hints for Apps users:
There's a video on how to find your magic cookie code, watch it.
Apps admin has to set the calendar permissions to allow public to access and modify (not preferable, but worth it).
There are additional configuration items in the menu link to the component, so set those, and adjust the configuration on the back end of the component so it has your apps account there.
That should get you started.