Yes, you can visit the script file directly to see what it does.
Essentially, it removes the quarantine flags that Apple automatically applies to any executable application that is extracted from a zip file download from the internet. It then makes the application executable.
Those are the only two things it does. It does not change the ownership of the application or escalate its permissions.
Unfortunately, the only way around this that we are aware of is for Apple to approve and sign our game, which will never happen.