It works!

I dont have any specific issues with this app.

Yes it shoots in landscape.
No it doesnt lock up.

Set the interval of captures. Once you have your pics you can choose playback frames per second, add a song from your library and add a handful if effects.

You can save your project as a movie, erase it, apply different affects and play back speed etc.

About battery, due to the nature of time lapse, you are going to need a LOT of pics to make anything cool thats more than a few seconds. Best to plug it in and walk away.

Appcritic77 about Timelapse Pro - Create Timelapse and Stopmotion Movies With your iPhone and iPod Touch