Good question Stinsonddog, the application does not actually do anything with the GPS settings on your phone.

The application uses internal Blackberry API's to access Location Based Services. The phone (if it has the ability) will either return a true GPS location based on the GPS chipset, or fall back to LBS which can either be triangulation or a cell tower location. (the farther down the stack you go, the less accurate). It really depends on the signal strength (and capabilities) of the phone. It will never change settings on you.