JOHNNY ROCKET just tried this out, worked as advertised. I had 1.0.2 with apptap installer and several 3rd party apps. Followed the directions in the help and it worked perfectly. My 3rd party apps didn't show at first, but I used iNdependence to put apptap back on by extracting the 'installer' first from the apptapp app, then I had to just uninstall and reinstall the 3rd party apps. So far I've gotten the following 3rd party apps installed and tested: Apollo, Stumbler, iFlicker, MobileFinder, Services, TapTapRevolution, iBlackjack, weDict, Sketches, VNotes, Books. Summberboard will not uninstall, so can't get it to reinstall.
Haven't gotten it to install my custom ringtones yet. But did a little research and aparantly you can't just rename them to .m4r because it's actually a different kind of file, not just a renamed mpeg4 audio. At least that's what it looks like so far.
(Version 1.2.3)