It adds some features that are specific to jQuery Mobile, and, in my opinion, they are features that no good Rhodes app should be using. I always leave it out.
Most of it is to support Wait pages.
You should be aware that this monkey-patches jQuery Mobile, and is designed only to patch a specific version. If you use another version of jQuery Mobile, you need to review and see if changes are needed.
Rhodes 3.x has only ever officially supported jQuery Mobile 1.0, and the patch supplied will only work correctly with JQM 1.0. However, many Rhodes have updated their JQM to newer versions, and probably have not removed the patch.
Rhodes 4.0 currently supports jQuery Mobile 1.3.1, and it appears the patch has been re-written for JQM 1.3.1.
Perhaps somebody from Motorola can comment on the other purpose(s) of the patch, other than support Wait pages.
That said, I have reviewed this code myself, and I didn't see anything that I thought would be a performance bottleneck.
Let me give this topic a little kick.
Can it be that this patch is needed to give the app the look and feel of the platform you build it to? So lets say, you build for Android it gives it the typical look and feel from android with android calender-selectors e.d.