(er, I posted this in the wrong section last night, I didn't realize there was a whole category for cloaking right in the menu, sorry about that. Don't I feel stupid.)

I've been looking at Kloakit recently and I'm wondering if I could use it (or something like it) to just show another version of pages on a site where outbound links are nofollowed.

Is that generally what something like Kloakit would be used for?

How likely would it be to get caught and penalized by Google for this?