TinyMCE GHOP

For GHOP task #119, I've created a module which creates (or restores) a flexible and secure configuration for TinyMCE with a single button click. You can download the module from the d.o issue queue (after enabling the module, it appears as Administer -> Site configuration -> Set TinyMCE defaults). I would appreciate any feedback on the implementation of the module, the user experience, and the configuration it installs.

My thoughts are below, but I would prefer to hear yours :)