It is against the TOS to modificate anything, so we can detect Cheaters. I agree with darkd3 not being a cheat ... at least not for now. As long as it is no cheat a ban is unlikely
So more or less he said its not cheat and if it stays this way you wont get banned.
Also as the previous writer stated - it doesnt manipulate anything, nor is it a third party program ... it is a simple Shader, which works in compability with your graphics card ... so has nothing to do with the game it just overlays the graphics