Thousands of people use WinEQ 2 every day. If it was a keylogger or scam, I wouldn't still be in business after more than 3 years, with my real name on the about page. I find it particularly funny that you're bringing this up when I've already had public opinion in my favor for years based on current and past products -- for EQ1 alone I was behind EQWatcher, TEQIM, MacroQuest 2, EQPlayNice, WinEQ 1 and 2, I'm not sure anyone has a better list than that for EQ1
The help file is showing features you would find in the Pro (paid subscription) version of the software. As a Lite (free) user, you do not have access to the full feature set. The "Features" pages of what you're looking at show that there are features separately available to Pro subscribers. The missing features you are looking for are available only to Pro subscribers, which is why they don't show up for you. I apologize that the manual does not indicate on each page whether the feature is available to Lite users.
The main thing you would get from WinEQ 2 Lite for EQ2 is the hotkeys. For example, if you play multiple characters, it may be very beneficial for you to have hotkeys to quickly switch between the sessions -- this is something EQ1 players have enjoyed for years, originally with EQWindows and of course now with WinEQ 2.