I've been using this nice little gadget for about 4 months, and I haven't been caught once. However, someone did report me, but I talked the GM out of taking action, and this is how.
Some things to keep in mind:
-This is a process speeder, it is not actually modifying game code, just speeding your game processes.
-It massively increses your ping, and you skip from place-to-place in game, making it extremely hard for people to target you
-In large cities such as Stormwind, it is completely safe. Characters take a few seconds to load, and since you are going at such a high speed, no one can see you, technically, you're invisible
Some things I have done/can be done with it:
-Boost your speed a bit when concussive shotted, escape from hunters
-Take the Warsong flag, and boost your speed when no one is looking (Made tons of honor this way)
-Never worry about an epic mount!
-Speed on your flying mount through Outland, farming herbs you come across (Great way to make money)
-Solo extremely hard quests as a ranged attacker by running back and shooting when the mob gets too close (Great for the Rhok'delar quest)
So anyhow, the player reported me to the GM, since the GM cannot look at my processes (Since I have a process-name changer) There was no way for even Warden itself to pick up the program name. I told the GM I was having massive lag spikes (Due to the hack, my ping was 10k, though Note: This doesn't slow down the game speed) and he let me off free.
Now, finally, for the program.
Sadly, it is on trial for 15 days, so you're going to need to purchase a key (which is worth it) if you want it to work further:
Xelerator - Reviews and free Xelerator downloads at Download.com
Now, instructions
1. Run the program
2. Press the "..." button next to the "Run" button, and select WoW.exe in your game folder
3. Press "RUN" and it loads the game
4. The Default hotkeys are "-" and "+", of course, it's a given what they do. They adjust the speeds. Further options are in the hotkey menu, I know you're smart people, screw around with it
<3
Aph
And have fun!