Disclaimer (I have not tried the new one) How do you know they store it in clear text? Have you seen inside their database? I mean they could be accepting the password in clear text but maybe they run it though a MD5/Sh1/Salt process before it actually gets to the database.

I'm assuming you mean the ad-hoc password. I will change this in the next release.

I can assure you that the data is encrypted from the phone to the server and never stored anywhere.