BuddyBackup users?

Is anybody using BuddyBackup? There is a one-post thread from 2011 (which is where I found out about this software) which links to a review on smallcloudbuilder.com. It looks a lot like a distributed Genie Timeline but you don't have to use the Internet to back up files - there are options to back up to USB or network folders. My main concern with something like this is that the files are encrypted by default. There is no way to disable encryption, which makes sense if you are sending your files out to your "buddies". What is unclear to me is what role the BuddyBackup account plays if you don't use it to save your encryption password. Could you end up in a situation where you are unable to recover your files because you must use the application to decrypt them?