We haven't had the opportunity to get our hands on one and try it out yet, but from what we understand it is unlikely that you'll damage your module. Since the parallel port is software driven, you may run into issues getting it working. In theory it may work, but our honest opinion is that if you do get it working, there will be a great deal of effort in doing so.
If you're running Microsoft Windows, you will not be able to use such without a great deal of programming. Unlike the USB-to-serial adapters where the Windows drivers simulate real serial "com" ports to the application, the Windows drivers for USB-to-parallel adapters are intended for printing only and do not simulate "lpt" ports. In general, these cannot be used for non-printer devices that expect the software to twiddle individual lines on the port. This change killed a lot of special devices, particularly things like PROM/FLASH programmers that were designed for real parallel ports.