Prevent Google AdSense ads from being displayed and remove Google Analytics, while you are logged into your WordPress blog.
Yes! The plugin works by searching the entire contents of each page generated for Google AdSense and Google Analytics. It doesn't matter whether you do this with plugins or with your template, the plugin should still work.
The purpose of the plugin is quite simple: prevent Adsense and Analytics from being loaded when you're working on your own blog. There's really no reason to make it more complicated with options. Perhaps in a future release I may add options to adjust the colors for the placeholders, but that's the only option that comes to mind.