Deprecated usage of create_function()

Thank you for your input, however I do not plan on updating this widget for PHP 7 compatibility, and I recommend that you stop using it.

If you have a need for this widget, you’re better off writing your own custom widget instead. More information on how to do this is here:
http://ottopress.com/2017/on-the-topic-of-that-pesky-widget/

Do you have security concerns for using PHP in a widget?

Yes. Please do not use this widget. It is not safe or sane to be putting PHP code directly into your page like this.

The widget was meant for temporary use during migration to widget based themes. Not for permanent use. If you have custom PHP code, then put it in a custom made plugin, as I explain in the previously given link.