Check the comments in this thread on macosxhints and I could point you to other, similar threads elsewhere.
http://hints.macworld.com/article.php?story=20090913140023382
For myself, I would certainly not entertain using this hack unless the NTFS volume was being
very regularly backed up (with a long-period archive) or it contained only data that I did not care about if it disappeared. Based on the evidence I've seen, it might be OK to enable it temporarily, but I wouldn't leave any NTFS device connected with write enabled any longer than absolutely necessary.
Generally, I've no trouble messing about in the Terminal to get things done, but file systems are one area where you want to be on very solid ground or you can find yourself in deep doo-doo rather quickly (this from someone who's had practice at manually editing partition tables with pdisk and occasionally got it wrong). If you do encounter corruption, then you may not know about it for weeks or months until you go to access a file and it's not there or zero length.
Apple's NTFS support it most likely reverse engineered. They'll usually disable access to things like this for good reason - the risk of people losing data because of an incomplete implementation is one such. Read only protects you from that.
Your mileage may vary, but I wouldn't be advising anyone to do this without a well-signed health warning so they have their eyes wide open and are prepared.
FWIW, I run a network of about 40 client Macs and five XServes for my day job and, in various roles, I've been supporting Macs for a living since 1993.