This app works fine (build 1.1(591) to me running Lion 10.7.2.
It autostarts whenever i play anything which is cool, but at first i was wondering why i got a delay sound when listening to music through internal soundcard and not my M-Audio card. Turns out i totally forgot that i installed Hear weeks ago and was surprised it started automatically. A small adjustment in settings and tweaking to get your own sound and get rid of the delay and is all good..
I used to use VLC to playback music because iTunes soundwise as a mediaplayer totally suck without HEAR. But VLC has no decent library like iTunes so it was like a mixed affair.
Now im back to iTunes and runs it with HEAR for better sonical experience and higher volume output through headphones.
This software rules! Good EQ, very powerful and sensitive with plenty of FX to pile on top. Easy tabbed interface to turn off any FX on one page if you desire.