I used to use this some time ago but does its need for java make it a bit hazardous to use these days? Does anyone still use it or is there something better (other than MS Office)?
The open source (free) Libre Office is well thought of and has a lively update tradition. If you search for "Java LibreOffice" there is a broad discussion.
The Java run-time (plug-in etc) is a security issue, I think probably because of its age, and a pain because of its frequent security updates.
However, as Mick says, the security risk is really when your browser is running it, meaning that arbitrary web sites can invisibly run Java code that might be malware that exploits Java's weaknesses.
Using it only from an app should be secure except that shared documents could contain malware. Does Neo Office support macros (like in MS Office)? If so, they are an easy way to introduce malware and should be distrusted (with extreme prejudice).