Does it make your companions follow your footsteps, or do they just follow willy-nilly? Because those idiots walking over traps and fire/poison surfaces all the time are my only gripe with the game.
If it's anything like the gamepad controls (which also let you walk around like an MMO but don't require a mod) they will still happily walk through every inch of danger and pain they see, taking needless amounts of damage in the process.