The Facecrooks security sites warns users to avoid installing apps that report to watch user profile information (as they currently do not exist)

QUOTE:  Clicking “Allow” will give the scammer access to your Facebook data at any time and the application will be able to post to Facebook as you. This will allow them to spam their scam messages to all of your friends. This particular application is called “Pr0file Watcher”, but scams like this are known to use multiple Facebook apps. Anytime you install a third party Facebook application, you give the application developer access to your personal data. Always be very selective on the apps you install, and only install them from well-known, trusted sources.