The pop up actually does everything related to UK cookie law.That add-on does not make your site compliant, it simply implements the civicuk.com popup, which I'm pretty sure it was created only to boost their ranks in Google as it does absolutely nothing related to UK cookie law.
In its most complete form it prevents all cookies until explicit permission is granted. In its nearly complete form it allows cookies but can allow a visitor to opt out. In this particular form, the webmaster gets implied consent from a visitor which, providing the privacy policy is clear about exactly what cookies are being used, is compliant according to the ICO's current guidance.