I understand your lack of trust, as there's currently not much published about demonsaw to make it absolutely trustworthy.
And sorry, I meant disassembled, not decompiled (my bad).
If you want to check out demonsaw's every move first-hand, you could run it in a debugger (like OllyDBG).
Just to try to angle the trust/distrust: What made you trust other software you use that aren't open source? And is there anything alike demonsaw could do to appear more trustworthy except from open sourcing? (The reason why it isn't open sourced yet is explained here).