Worked fine on OSX Mountain Lion
Im using a 2011 MBP, running OSX v10.8.5, installed and ran with no problems. Double-clicking a rar file automatically unzips all contents into a folder with the same name. You can set a few simple preferences in the app, such as the default directory for the unzipped folder (stock setting is to unzip into the same folder as the rar file) and actions after unzipping (e.g. exit app, open folder, etc). Doesnt have the same archive-browsing functions as WinRar but I havent yet found any OSX apps that do.
IreneDAdler about RAR Extractor - Unarchiver