WordPress.org

Is this for SEO cloaking?

Absolutely not. This is only for creating pretty hoplinks and preventing link hijacking/modification.

Will it work for all links?

I recommend testing with your links to ensure your cookie gets dropped properly. I know it works with Clickbank.

I get a "post not found" for cloaked posts, not a redirect. Sup?

Make sure you're using a valid URL (i.e. http://somedomain.com) If you're still having difficulty, email me at info@m7tech.net