Ok, so I downloaded and installed it to test out anyway, and here are my thoughts:
1. The built-in library of glyphs is marginal. It’s not very large, but it is different from other libraries on the market for greater variation.
2. It does support transparent backgrounds.
3. The kerning of round edges is substandard and results in jagged edges.
4. The support of fonts is a plus, but the fact that you cannot insert a <CR> hurts that functionality.
5. The background supports color gradients, but not other images or text.
6. The largest ICO export is 256×256, in spite of it claiming to support 512 and 1024 sizes.
7. It supports importing images created in other software. This can help you overcome many of the other limitations.
Overall, it’s a decent addition to your icon-management software and I will probably keep it long-term.