Google apps marketplace - Security, Privacy

I like http://insight.ly - it seems like a sweet app, a simple but good CRM/ Project Management application, and amazingly its FREE!
But is there always a catch?
Think about it.

It's a Customer Relationship Management application. That means you give it all kinds of private information, your contacts, your documents, your plans and the vendor doesn't even provide YOU with a mailing address and phone number on the insight.ly website.  Hmmmm. But surely they are ok?

I mean... this is a Google Marketplace App... So the great and powerful Google must vet these folks, right?
Let us consult the oracle.
Sayeth Google:  " NO! "

You are solely responsible for any compromise or loss of data that may result from using a Marketplace app....you should be cautious and install applications only from vendors that you trust.

Caveat Emptor! Sez the great and powerful Google!

Think about it.
If someone walked up to you on the street and asked for all of your email contacts, and the contents of all of your documents, and the phone numbers off of your cell phone, would you do it?