|No, erasing the Swap file is not dangerous but in most cases it is quite pointless. In Windows the correct term is pagefile and that is what I will call it. I am not certain how Privacy Eraser Pro erases the pagefile but I do know what a related registry setting does. The setting tells Windows to completely overwrite the pagefile with zeros when the system shuts down. It does not delete the file. Since the pagefile cannot be touched by any application while Windows is running I must assume that Privacy Eraser Pro uses this setting. The pagefile is erased only during shutdown. It is impossible to do this at any other time.|
Erasing the pagefile is a security measure. It has no performance implications whatsoever except that it lengthens the shutdown time. On some systems this can be considerable.
Since the pagefile cannot be accessed by any program while Windows is running a hacker would have to boot into a different operating system on removable media. That is unless the system is set up for dual boot. If a hacker has reached this point the system is already at his mercy, even without accessing the pagefile. Finding a password or something else of interest in hundreds of megabytes of raw data is an uncleared pagefile is formidable undertaking. In most cases he will find what he wants before this.
Most computers have far more serious security problems than am uncleared pagefile. These are problems that Privacy Eraser Pro will do little to nothing about.