The code to process the recipe element names does this....
(item.getUnlocalizedName().equals("item." + s) || item.getUnlocalizedName().equals("tile." + s)))

In minecraft 1.7 the unlocalized names do not start with "item" or "tile" and so it is impossible to use items from other mods.

Also it would be really nice if it supported the ore dictionary.

Works fine for me.
I just tested swapping out the redstone in the basic CPU recipe for a buildcraft "wrenchItem" and the recipe worked as it should.