0.07 doesn't sound like a show stopper. The moon is 0.12, so Phobos reflects 40% less light for that reason. The sun being further away (1.5 AU) has a bigger effect due to the inverse square law - that costs 55% of the light. But the biggest effect would come from the fact that it's tiny, about 0.65% of the radius of the moon, orbiting 60x closer, which two factors combine to make it another 60% dimmer than the moon. Then there's the atmosphere which I expect to have a relatively small effect assuming good conditions on both Earth and Mars.
So overall I estimate it should be 0.6 x 0.45 x 0.4 = 0.1, or about one-tenth as bright as the moon, or apparent magnitude -10. That would make it far brighter than we see Venus or Jupiter, but makes me question the assertion in TFA that it would cast shadows - I don't expect many shadows on earth when the moon is one day old.