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I guess its just an equalizing software. In that case. No.
it only seems logical that it would make it more likely to blow. apple probably put a meaningful limit on speaker volume. after all they are tiny little speakers. get some good headphones or speakers. i use bose headphones to watch tv and movies on my mbp because i can hear more (i.e. higher quality) than those crappy laptop speakers
and don't tell me you cant afford them, you just bought a macbook pro
It doesn't increase volume enough to damage the speakers, but it does help. I have headphones and external speakers, but neither will help when you're traveling and want multiple people to hear something on your MBP.
Using it on both MBP and iMac and it works well.. although with the boom on I rarely go above 1/2 volume level..
Also, all those who question if it could damage the system may have a point. I asked myself whether it could.. But so far.. all good (fingers crossed)..