According to the documentation, instead of remembering a password, you have to remember per website : site-name (was it .com or .co.uk? did you put the TLD at the end?), site-counter and site-template. That is not much better than remembering a password.
I do not understand the purpose of the site-counter : if it is incremented, your password breaks every time, so this should be a constant value. If it is a constant, it does not add any security. Update: as mentioned in a comment (thanks), it could be used to update a website password when needed. The same effect could be achieved as efficiently by appending a digit to the website name (that's in theory a tiny bit less secure), so it looks like over-engineering to me.
This software could have been done in pure JavaScript. Instead you provide your credentials to another party. It's open source, thus someone with more time than me could check that it's legit.