I've never had a false alarm from the system on my car. But then, I actually follow the recommended minimum following distances and generally drive safely.
I've also had it activate in normal driving due to someone else doing something dangerous. I'm pretty sure I was on top of those situations but I'm happy the system had my back even if I didn't need it.
My car auto-brakes at 5mph for parked cars that are backed into spaces, which I am sure reflects poorly on my driving in some way, if we're adopting the "bad things only happen to bad people" model.