It's just a collection of the various control and configuration programs into one folder. There's nothing in there that wasn't there before, it's just been collected into one folder for you.
Yes, and it's UNDOCUMENTED. So, let's say that I'm a malicious virus writer. I write a trojan that creates this folder, and then a script that uses controls in this folder to open ports, open access to your machine - and then do something really nasty. Say, perhaps hook your machine into a coordinated attack against the Pentagon.
Because this is undocumented, and a 'Godmode' sort of thing, it's completely conceivable that you can shut down every security precaution that Windows has - and completely remove your data, and write 1's over your data; load nasty things from an off-shore website, and steal your identity, use your machine as a Zombie - there is no limit.
All because of this 'Undocumented Feature'. There are limits on the OS, for very good reasons. This allegedly bypasses those limitations, and there is nothing that indicates what you CANNOT do. This is bad - if you can do it; so can a script written by someone you do not know.