supposedly from what I've been reading it decreases your likelyhood of becoming banned, simply because according to Jagex all they see is you playing on OSBuddy, and not some random 3rd party client. But what they still can see is all your mouse movements, so when they see repetitive mouse movements for hours on end, you will still get a ban. Even thought you may be using a VIP or Purchased script, like what happened to me.
I thought there was a separate download you needed to move into the game files. When i do what youre saying I get some kind of error and it just closes, and puts a .txt file onto my desktop
hs_err_pid13316.log
Above file is what downloads to my desktop after the client searches for osrs client to attach to.