You will see a Superuser screen that asks for root permissions. Click "Always allow", otherwise when you decide to perform a remote wipe the app will have to ask again for permission.
Insert a text that, if received, will wipe your data.
Choose a password to protect your settings and click "Save and quit".
Remote Wipe will delete everything in /data (like a factory reset) and in /sdcard (all the content of the SD card).
So if you decide to try the remote wipe to see if it works, remember to backup your SD card content too!
Install SIM Checker and enable text alerts. The new number will be the sender of the SMS messages.
To change the settings, start the application and enter your password.