Sounded great, installed the public. With WP 3.3.1 the effect of enabling this plugin is that the visual editor is disabled for the current user but what is seem is just the normal non-visual editor.
After deactivating the plugin, I still had the normal non-visual editor. I thought something else was broken on my wordpress install since I had just installed WP 3.3.1 and deactivated all my plugins, etc. trying to get the visual editor working again. Only after a ton of searching did I think to look in my user profile to re-enable the visual editor. DOH.
So, long and short, with 3.3.1 this plugin does nothing for me but disable the current users visual editor preference.