I've already run this in our labs and didn't notice any huge hit to our servers like I was expecting. I suppose if I'd run a dozen machines, but even then I don't think it'd be terribly bad.
I did notice that it stays on each mailbox as long as the timeout you have set, even when it's updated every appointment already. I figured it would move on when done.
I had questionable results determining users timezones. Some who were in Central came up as possibly being in either Central or Eastern. That didn't help me much. I also found that in my case, searching recurring appointments was a must or that Central user would have come up as Eastern.
For a large organization, it'll take some effort. Also, if your users have manually adjusted the effected meetings backward an hour to compensate for the perceived error, this tool will shove those meetings backward an hour as well. :( Darn users.