It works, but can't say whether a Blu-ray disc you burned would play in your Blu-ray player -- the encoding settings [via MediaInfo] don't quite match either a retail disc or the x264 encoder settings recommended for Blu-ray compatibility. It will not create the Java-based menus or features you see on a retail disc [instead they're basically the simplest you'd see on a DVD], and it won't let you import Blu-ray compatible video [or audio] and use it as-is, without re-encoding. It will however include the subtitle streams in an .m2ts file that already includes those streams, and it will let you import and use subs in the .srt text file format. It uses the free tsMuxeR [the old, original version rather than the new effort] -- if you didn't care about menus you'd probably be better off encoding your content elsewhere, using Blu-ray recommended settings, & the standalone version of tsMuxeR.
videohelp[.]com/software/tsMuxeR
Tipard Blu-Ray Creator adds the program folder, a folder in ProgramData [at default installation settings], a folder in Users\ [UserName]\ AppData\ Local, & a Log folder in Users\ [UserName]\ AppData\ Roaming. It adds a service, but it does not show up in Control Panel -> Admin. Tools -> Services. And it added 451 new registry entries in my Win7 32-bit VM, many of them file type associations.