modify or delete contents of usb - Allows you to access if the idiot is stupid enough to take selfies with the stolen phone
edit text messages/read text messages - Yo d00d, got this bitchen phone from that place I robbed, meet me at mcdonalds! *You meet him at mcdonalds, with a baseball bat or police.
directly dial numbers - lets it dial itself so you can find it under the pile of laundry you left it under/ if you have the ringer off it turns it back on.
send emails to guests without owners knowledge, modify contents - emails you location of phone without making notification on handset, tipping off the thief.
modify contacts - locks down your info in case a thief is attempting to get your contacts by snagging your phone.
While all of these are certainly cause for concern if you do not trust the app author, they are also beneficial in helping you recover your phone.
There was a thread I read on some forum where the guy managed to snap pictures without the thief being aware, he posted the selfies the idiot posted, he listened in on the calls the idiot was making, and was able to dispatch the police thanks to remote access of the GPS setting.
Cherry on the cake? The thief had shut off the ringer, the owner of the phone turned it on. Thief said he didn't have any idea why anyone would send the cops to his house. *RING RING*