The software writes all key presses to a debug logfile on your own machine (which is overwritten on each reboot), it doesn't send them anywhere. This is bad enough, especially given that the file apparently is readable by any user on that machine. But it's not really a malicious spying tool, it's "only" really sloppy programming.
i remember how PM team (not just a team of typical poor technically clueless PMs, mind you, it was the "product management" team including actual PMs, project leads, lead architects, managers, etc.) waived security bug because it was only starting "notepad.exe" and thus was really harmless. Not joking, true story.
deniability all the way, baby.
The only person you'd be inconveniencing would be yourself -- the keystrokes are written to disk, not transmitted over the network.