This is not such a wonderful plug in. In my humble opinion.
I have empathy for players who characters carry considerable amounts of swag in their cargo holds that could be affected by this automated sanctionizer by no fault of their own. For example miners, haulers of very expensive cargo and carriers of rp-vital sundries.
What if you got stuck in a docking sequence at a jumphole? This happened to me with a hostile right on my six, back in 4.84. I had no other recourse other than to F1 out. I popped right back into the game and explained the situation to my nemesis, who took the whole thing in stride. If that happened now, I'd have an empty cargo hold and I'd be 5 mil poorer. Double plus ungood.
I understand the Admin workload is staggering, but this just seems to shuffle the problem of F1ing to another party, as Jinx already said. The advantage of this plug in is that the non-rping F1ers get punished immediately. The obvious disadvantage is that innocent players get the same "punishment" because their connection unexpectedly peters out or real life priorities require the player to leave the game in an instant.