As to if this still works or not, we have hardly made use of it outside of a few cases, so we haven't used it recently to say anything about this. However, we could confirm that the option still popped up in the link setting window to add nofollow from.
However, if you have the plugin enables, you will see the option listed twice, because apparently WP built it into the latest version. Therefore, there is no need for this plugin any longer (unless you want to make use of the nofollow all links within the comments option. I don't know if Wordpress supports that or not since we don't allow links in comments to begin with.
In its time though, this plugin has been useful the few times we needed it and likely useful to so many others. I needed the 5 stars for love. Now, it is no longer needed though.