Yes I’ve tried the mod. It’s way better than the MSFS default in numerous aspects but for serious operations like the one OP is asking for it’s still lacking many features and is basically a glorified video game at the moment.
Here’s how a RNAV approach works in the real unit:
Here’s how it works in X-Plane 11’s default GNS 530 (which is extremely close to how it works in the real unit):
MSFS default or the modded 530 never does it like the real unit does in the tutorial video or the Xplane video.
The MSFS default or modded GNS 530 might capture the GS and descend at the appropriate times if you are lucky, and might follow the LNAV track correctly too if the u-turn bug doesn’t appear, but the CDI scale never sequences from enroute cross track scale (5nm) through to arrivals (1nm) and then finally changing to 0.3nm scale at the FAF. The CDI scale always remains at the ‘En-route’ mode and never changes its sensitivity during the final approach, meaning that under ICAO rules you are not allowed to legally fly such approaches as the comedy unit fails to meet the required minimum performance standards.
The GNS 530 mod indeed adds a lot of other functions that might be attractive to video gamers (TCAS, fictional weather radar etc that the gamers would find entertaining), but it doesn’t add anything useful when it comes to someone wanting to use the unit for doing such an approach realistically like X-Plane 11 or RealityXP (RXP) units can straight out of the box. Both the default and the mod also have several important features missing…such as holding, missed approach procedures etc, that are important for various STAR and RNAV procedures, all of which is available in XP11 default and RXP.
For example, the following RNAV approach is impossible to do with the MSFS default or modded GNS 530/430/G1000 as you can’t program the holding and missed approach procedure using them, and only the excellent Working Title CJ4 mod will do this realistically and comfortably with little to no issues:

This is not the gns 530 mod developer’s fault though. He did the utmost best he could with the artificial and intentional limitations of the SDK forcefully imposed on the developers by Microsoft and not Asobo. Why do you think the Aerosoft CRJ doesn’t have a weather and terrain radar? and why can’t it use the stock navdata? In my totally own opinion and personal observation, the core sim developers for now have been instructed by Microsoft to remain busy with and focus on the Xbox part of the software and entertaining the Xbox video-gaming crowd with nice and shiny POIs, world updates, nice trailers and music etc, and they have little to no interest in serving the serious users of the software.
I’m hoping that this will change now that Working Title Simulations LLC are onboard and will be working on fixing and improving these deficiencies, and their lead developer Matt told me yesterday that MSFS 2020 will ultimately be for everyone, for both GTA and serious users. Whether that will happen in the next 6 months or 6 years…I don’t know.