This is interesting... but my question is, how can we trust it? For all I know, it could be a trojan horse (both literally in the sense as in the mythical one and as a virus) to IMPLEMENT such surveillance.
If anyone has any insight/experience as to why we can trust it, I'll give it a shot. (inb4 it reports Windows itself)
You can read the source. It's doing some pretty standard signature recognition. I wouldn't consider this untrustworthy, as much as useless. If you are a target of state intelligence services, you're likely owned already. If you're running Windows, then you're certainly owned.
The people who could actually benefit from a tool like this (beyond the merely paranoid) have much bigger problems to worry about than anything this tool addresses.