Eqmule has been doing this for a long time. He'll say it was only for TLPs, or only supposed to be for TLPs but you can't trust anything he says. He basically works for Darkpaw Games and has taken his open source project and made it closed source. That's fine, it's his work and he can do what he wants with it but just know that if you do anything he deems unacceptable your account will be suspended/ban.
The client stores your account name and password in plain text in memory too in case anyone was interested, so if he is sending in game mail back to DBG/DPG, you don't think he is collecting other information within MQ2IC? You've been given a small snippet of proof of what's happening inside MQ2IC but it's likely only the tip of the iceberg.
The simple truth is Eqmule overstepped boundaries when he added MQ2IC and started hiding stuff from the community. The problem is no one is in a position to create MQ2 without him at this point. If the intention was to keep MQ2 off TLPs there were better ways of handling it than trying to add that restriction within MQ2. Now you've got a custom builder (conveniently have to subscribe $$ each month), your plugins have to be approved and built within there, and you have no idea what's inside MQ2IC. So what's happened now that you've got MQ2IC? You've got people selling cracked copies for bitcoin, a new hacking program that specializes in warp, speed hacks, afk'ing etc, and other custom programs such as ShowEQ with targeting built into it. This is all cause/effect of MQ2IC. Eqmule thinks he has stopped MQ2 across TLPs but all he has done is generated a new market for selling cracked copies of MQ2. If you reverse engineer someone elses code, expect yours to be reverse engineered as well. Add all of the hashing and protections you want it can all be undone.
I say this all and I still MQ2, again, because there is currently no better option. Hopefully that changes sometime in the near future, I've heard rumors and look forward to a new opportunity.