The installation was easy and you have immidately access to a new account with plenty of functions. You can offer link positions and you will get in return incoming links from other websites.
You have full control over the topics of the incoming links (e.g. no casino, no adult, no miltary, no politic, whatever you like)
You can even reject single incoming and outgoing links, which you do not like.
I have tested the module 2.2.3 with joomla 1.5 and PHP/HTML-sites.

First I was excited, but
1) it seems that the domain filter does not work
2) spam robots visiting my forum left their referrer also in the link list
3) direct reciprocal links have less value than an open-jaw link (fork link)
4) the existence of the links are not re-checked. So it is easy to fool the tool.

I will continue to use it, but it needs more manual work than expected. I am still satisfied, but nio more excited.