Indeed, it is not wise to run third-party bookmarklets while logged into Facebook. This one may be benign, but the next one may not be. If you want to see the JSON we're talking about, just load
Nevermind, I misinterpreted. I just realized it's supposed to be "viewer=[ID]", I was interpreting it as "viewer=[ID]&userid=[ID]". I'm still getting errors, but presumably that's another matter.
It's javascript. Read the source before running it. The obfuscated gook that's 80% of the script has 0 diffs from jQuery as downloaded at jQuery.com; and the rest of the script is easy to verify in 5 minutes.
It's also a great habit to get into. Reading source code is invaluable in understanding and learning. And it is a skill that can be cultivated just like others. For example, the Prey project is an invaluable piece of software, except it's potentially extremely sensitive. Probably worth reading the source first.
You also start to get very well versed in the "usual way of doing things", especially if it's a language/paradigm you're not programming daily in.