What is "Bugless Beast?"?

Hi! I am a new Droid 2 owner and, while loving it, am still experiencing poor battery life and some signal fluctuations. In looking around, I keep seeing reference to the “Bugless Beast” ROM. The implication is that many of the problems I am experiencing might be fixed by going down this path. Would you be able to give me a newbie explanation of this thing and an understanding on why I might be interested in it? Also, what would be the down side? Can I revert back to the stock Verizon software if things go wrong? Is it hard to install, etc? Thanks!