FavorLists doesn't ask you for your Twitter password and will never see it. To log in to FavorLists, you will be redirected to Twitter, where you will grant FavorLists permission to access your Twitter information.
Once you grant FavorLists permission to access your Twitter account, FavorLists will store your Twitter screen name and ID to identify you when you log in in the future.
FavorLists will also copy your Twitter favorites, so it can add some powerful features not available on Twitter (such as searching your favorites for keywords, or filtering them by user).
You can also create favorlists to organize your favorites (but I'm sure you figured that one out already!).
Nobody. Other users of FavorLists don't have access to your favorites or favorlists.
FavorLists will include a social feature in the future, where you'll be able to share your favorlists with other users.
However, this feature is not yet implemented and you will have complete control of what information is shared with other users.
All your information will be private, by default.
FavorLists may use your screen name for promotional reasons, and only to identify you as a FavorLists user. It will NOT share any other information about you with others.
Absolutely not! FavorLists is a service created to help you make better use of Twitter favorites. If you find it useful, you can tell others about it (which will be much appreciated).
Otherwise, FavorLists will not seek to promote itself on your behalf.