Hello Faithless.
The answer to your question is: Yes it's bannable
Link to the rules: http://forum.pandawow.ru/showthread.php?t=79032
The specific rules that says that it is: 1.1 Using/distributing cheat programms (or Bots), Cheat in raids. If one or more players in a group/raid use cheats, all players in the raid will be banned.
This rule is mostly for cheats that makes you fly ans run fast etc. but the owner of the server confirms the answer with a "Yes, it's bannable"
Personal experience, I have reported a guy and he got banned. Due to that this was over Skype there was no report involved on the forums. So my opinion use this cheat on your own risk but don't come and cry if you get banned.
1.7 Only the owner of the account is responsible for the actions done on that account, regardless of who commited the infraction.
Regards,
StarCaller