Pros
It's a low stress environment. This is a good thing if you're good at your job and self-motivated and can get things done. You can operate under the radar for a long time and it's strictly 9-5.
Cons
Unfortunately, the low stress culture allows a porous opening for dead wood employees to hang onto their positions and drag down other employees. Make a mistake? No problem! Forget a deadline? Oh, things happen! People either take advantage of it or don't have any motivation to do their jobs with any semblence of accountability. The offices are also horrible: essentially a rundown strip mall office complex where employees are mixed among other companies. The physical environment can be depressing. The software list itself has some good titles but mostly substandard; it would be embarrassing to pass some of the titles on to friends. The stock price has fallen 90% in the past year but the employees got only upbeat reports in the annual dog and pony show and then co-workers mysteriously start disappearing to "pursue other projects". Makes people really want to keep their heads down, shut up and avoid being laid off.