I use Google Reader all the time so it might be nice. The only thing I'd be worried about is when you go to install the Publisher Identity is Unknown and the System Access is Unrestricted, which means it could easily install a trojan. I'll be checking the source before I actually install it. The app isn't sponsored by Google, just a FYI.
Edit: I forgot that Adobe Air apps are all Unrestricted so that doesn't mean anything. I haven't completed my checking of the files, but searched out this app on the net and it looks legit, so ignore my security skepticism.