You don't need to be rooted to use the Sideload Wonder Machine on a droid phone. I've used it on my inspire.
The idea is that if you could use this to sideload apps onto the stock (unrooted) Nook Color, you wouldn't need to root.
I am thinking about getting a Nook Color for my wife, but don't want to root it. If I want to load some apps that are not in the limited market, the AC-SWM would fit the bill, if it works.
I know that you can run android off of the SD card, and that may be an option, but not ideal, since this will be for my wife, and not me. Would prefer to be unrooted, and just sideload any apps that she may need.