The only "problem" with setting this up (aside from having to have a paid account) is that when it first starts up, it spams your FL with all the changes that Joule has ever recorded for your LJ! Because of this I'm waiting until sometime late at night to go and set this up ... but it will be very cool getting a note about who's come or gone right there on the FL
Here's the post about it: http://community.livejournal.com/marnanel_joule/1089.html