I've tested it and I can honestly say that I'm impressed. It adds many useful new features to Opera. One thing I like is that you can simply select a text link and get a live preview of the image:
I've disabled the cursor tooltip to avoid the image URL to appear in front of the picture. You can also do this from "Preferences" » "Advanced" » "Browsing" and uncheck "Show Tooltips".
Anyway, give the extension a try if you're looking for new image features in Opera. Please let me know if you know of any other extensions out there that should be covered.