Sounds like there is potential for abuse by people who make bots to use the API to get positional information of players and monsters around you.
Me and friend of mine first hit this up when they were in the beta of it, and new we use it all the time over vent when just us 2 need to talk. Or when we are in raids (we both usually tank) and I need to talk to just him, we'll leave this open behind vent and talk just the 2 of us. (or gossip about hoe dumb/ stupid other people are, how awesome we are etc.) But I would LOVE to have an add on that would be able to do direct positioning automatically. I think it would be nice, and would definitely try it out if I see one pop up. (i have a whole lot of 0 programming skills, no way i'm making an add on)