My guess is that, in the spirit of all Ethereum Crapcoins, it's been coded with minimum attention to security and maximum attention to marketing.

We just used the erc20 template from the ethereum wiki.

It looks useful although for the people that do want to understand how the contract works it adds complexity to the codebase itself.

I definitely would use it for more complex smart contracts, but this one is meant to be easy and educational (like the whole app).

Looks like it's just doing overflow checking inline ( "require(balanceOf[_to] + _value > balanceOf[_to])", for instance).