Used to use this mod a while ago, but I stopped because it was a bit of a UPS hog. Though that was a while ago. Maybe it has been improved? How is it doing these days?
I've always found it to be relatively stable in UPS -- there's some tweakables that can make it more or less friendly (by processing more or fewer entities per tick) -- but ultimately it's down to the fact that it does need to cross the Lua-C++ boundary fairly often.
I think somewhere around 0.15/0.16 there was a major change that made it more efficient, but I can't say how that'll compare to your experience.