This is not profile customization per se - it is just a mod to add a html datatype.
This is what it does...
If you include a text box in the profile it will only allow you to type text into it - if you add html - it converts it so that it displays as text - it basically 'sanitizes' it.
So with this mod - instead of choosing a text box - you can choose a html box. This checks which html elements are being inputted against a list of allowable elements and removes the ones that you don't with see more to be used.
It is simply a mod to provide better functionality - how you implement it is down to you.
Regarding profile customisation - to provide an easy interface to be able to change the profile - each element needs to be controlled via code - this can be very limiting as the elements that can be changed are pre-defined as are the values they can be changed to.
CSS offers the greatest flexibility - give each user access to their own css file - which is unique - they can modify it from a text field in their profile - this way the user can control the position / colour / appearance of the content but cannot actually change the content itself - this also makes mods like the one I mentioned before for block reordering simpler to implement.
This can be further evolved to utilise 'css tags' (imagine BB tags but for CSS) - anybody should be able to understand a simplified version.
This is what it does...
If you include a text box in the profile it will only allow you to type text into it - if you add html - it converts it so that it displays as text - it basically 'sanitizes' it.
So with this mod - instead of choosing a text box - you can choose a html box. This checks which html elements are being inputted against a list of allowable elements and removes the ones that you don't with see more