He obviously needs to look at the source first to see exactly what kind of work will be needed on it, but the basic premise of this is optimizing it, improving it (obviously as it's only an RC it has a ways to go), adding additional security, etc. This is going to be used on a live site and worked into the code so it'll not only save us a good amount of development time but allow us to simultaneously help out the community here by improving the quality of the script.
I have no qualms about releasing the modifications done to the script to you for you to distribute as you please to people whom would like to use it. This is a win/win scenario for the both of us.