No, no, a thousand times no.

"Licensor further warrants to oneforty and its Customers and
Sublicensees that the Licensed Item shall be free from defects in
workmanship or design"
Does OneForty understand that the "licensed item" is -software- and
that software often contains bugs?  Who determines what a "defect in
design" is?  OneForty?  Me?  Their lawyers?

"Licensor further warrants to oneforty and its Customers and
Sublicensees that the Licensed Item shall not contain any information
or content of whatever nature that is defamatory, obscene, indecent,
pornographic, seditious, offensive, threatening, liable to incite
racial hatred, blasphemous..."
"Blasphemous"?  Really?  So if my code includes a comment that states
"I can't make this goddamn thing work", I'm violation of the
contract.  "Offensive"?  To whom?

"Licensor shall maintain reasonable insurance"
Insurance?  I need to maintain insurance to claim my free, open-source
Twitter client in OneForty's directory?

"Licensor agrees that it will not use “oneforty”, “oneforty.com” or
any other trademark held by oneforty in keyword meta tags or any pages
of Licensor’s website or any website(s) owned or operated by
Licensor."
So, I can't have a link on my page that says "Check us out on
OneForty!" or "We're listed on OneForty!" or "Post a review on
OneForty!"

Laura from OneForty has the best intentions, and I really believe that
she wants to produce a developer-friendly community where everyone
reaps benefits.  That's great, and I applaud her for her efforts to
make this work.  This agreement (and the noxious one that preceded it)
give me the impression that OneForty's lawyers have a fundamental
ignorance of software, software development, and the internet in
general.

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