You guys are taking this way out of hand.
No one has ever been banned for such a utility.
While I agree they'd never add a signiture to check for it (why would they, it's not cheating), I'd still be cautious.
Normally I'd agree with you. As this particular fix changes the executable integrity in memory for some of its fixes (the hud), VAC could easily detect the change if they're monitoring an exe wide consitency check (to detect the maximum amount of cheats).
Other programs that are simply going through Direct3d and the like? Of course they're safer. They aren't going to get detected and they arn't changing executable memory.