AwesomeBeats is a modified DSPManager for non-Sense based ROMs that brings the Beats Audio experience to most CyanogenMod/AOSP variants in the HTC EVO lineup.
Generally, when people are contemplating leaving Sense, there are a couple of things that bring them back: the camera and the audio. While HTC Beats by Dre audio may be a gimmick to some, it’s a religion to others. And for those like me, it’s a way to make some inexpensive headphones produce a much richer sound.
Awesome Beats should work on any CyanogenMod 9 or above/AOSP-based ROM, although I’ve only played with it on the HTC EVO 3D and the EVO 4G LTE myself. Your experience will depend on your particular phone and ROM combo.
While flashing Awesome Beats should not mess up your sound settings, it’s probably better to err on the side of caution and make a full nandroid backup before flashing.
If you give it a whirl, let us know what ROM you’re using and how it works for you. Although I’ve used Awesome Beats before, I have yet to use it when I have my good headsets around where I can actually hear the difference.