This add-on allows you to perform the MySQL backup via the native MySQL mysqldump utility. So this feature acts more like an interface between MyBackup and that MySQL utility.
The backup created via mysqldump should run a bit faster and the script should be a bit safer. Furthermore this option will allow you to set many advanced mysqldump options that normally are not available with the MyBackup built-in MySQL backup function.
This option is recommended to the advanced users only because if you want to use it at its full potential you should have some knowledge of MySQL/mysqldump (which the everyday user doesn’t have it).