Yes, I use it. I don't think it will 'hurt' the image per say, but you can 'over sharpen' an image.
It's actually a pretty complex bit of stuff going on there, but the LR interface has made it quite simple for us. You can choose three output options (Screen, Matte Paper & Glossy Paper) and three strengths. It's a little counter intuitive because you can't immediately see/compare the results, so you sort of have to trust that LR will do a good job of it. (or you could do it different ways and compare the results to form your own opinion).
The reason that you can't just see the difference, like most everything else in Lightroom, is that the other settings/changes are applied and taken into account first, then the output sharpening is applied. For example, the size that your image end up, will make a difference in how output sharpening is applied.
FYI, this part of Lightroom technology came from a company/group called 'Pixel Genius' and the sharpening routines that they created. Some well known, and very smart, people are/were part of that group.