I'm bumping this to see if it will be fixed soon.
I just got a new Galaxy Nexus about a week ago and installed the app with anti-theft immediately. Since then, I've had MASSIVE battery drain for days at about 20% per hour.
Then I saw the thread and disabled anti-theft yesterday. The battery life jumped immediately to only 10% drain on moderate use.
The anti-theft function keeps Galaxy Nexus awake all the time. Please fix it ASAP.