...I used this to save the custom formatting of my site before updating as I'd just lost some changes on another site after a theme update, however as soon as I created the child theme my whole site died with a fatal error because the custom code was in the main theme and the child. Fortunately I was able to delete the child theme via ftp and get back in to reactivate the original theme without losing any of the customisations!
If you HAVEN't YET ADDED CUSTOM CODE To funtions.php, It should all be well, but if you have already, cut them now and paste them into the child theme afterwards!
The plugin creates files which can't be deleted via ftp nor using WordPress's delete button (Appearance -> Themes).
Edit: I solved the problem (see support thread and thanks to Odai) so the only buggy thing is this:
It gives a php error messages after creating a child theme.
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