Boon and Bane is an adaptation of Dungeons & Dragons 5th edition Advantage and Disadvantage mechanics. Having refereed two D&D 5e campaigns and played in several other I can say that it is a outstanding mechanics.
Why? Because while it lacks precision it is very easy to apply especially on the fly. In general a advantage/boon is a significant benefit to success and a disadvantage/bane is a significant hindrance to success. The players seem to intuitively understand this mechanic far more than a modifier. For the referees it makes adjudication a lot quicker as you just have to decide whatever the circumstance warrant a advantage/boon or a disadvantage/bane.
Now for some the mechanic is unappealing because they rather precise level of detail. The idea of boon/bane is to simplistic to make the game enjoyable. And that OK but in my experience most gamers do not want to get into that level of detail. They don't care if that when they are sniping somebody they get a +2 bonus for having a spotter on hand versus +1 for having a better scope. They do know that using a spotter or a better scope is better so they should get some benefit from it and saying it is a boon makes the whole process easier and quicker to resolve.
As for the odds, the exact effect depends on the initial chance of success. It is not as great if you are likely to succeed anyway and has it greatest effect in the middle.
For example if you need a 12 or better to succeed you have a 2.78% chance of succeeding. With a boon this becomes a 7.41% chance of succeed. With a straight 2d6 roll 11 or better succeeds 8.3% of the time so the exact bonus you are getting is a hair less than a straight +1 bonus.
For example if you need a 7 or better to succeed you have a 58.33% chance of succeeding. With a boon this becomes a 80.56% chance of succeed. With a straight 2d6 roll 6 or better succeeds 72.77% of the time while 5 or better succeeds 83.33% so the exact bonus you are getting is a hair better than a straight +2.
For example if you need a 7 or better to succeed you have a 58.33% chance of succeeding. With a boon this becomes a 80.56% chance of succeed. With a straight 2d6 roll 6 or better succeeds 72.77% of the time while 5 or better succeeds 83.33% so the exact bonus you are getting is a almost but not quite a +2.
For example if you need a 3 or better to succeed you have a 97.33% chance of succeeding. With a boon this becomes a 99.54% chance of succeed. This is not even equivalent to a +1 bonus. However the virtue of doing it this way that if you had a 3 or better initial odd and the referee gave you a +1, you have no chance of failure. However if a boon is granted there is a still a small chance of failure while still getting a small benefit to success.
In the end the the rule of thumb for this type of mechanics that it benefits the most when you have an average chance of success and the least at the extreme. The main benefit outside of it's simplicity to apply is that at the extremes it still leaves the potential for success or failure where straight modifiers would remove it altogether.
You can check this at
http://anydice.com/
I used the following to compare the odds
output 2d6
output [highest 2 of 3d6]
output [lowest 2 of 3d6]
I recommend viewing the graphs using the AT LEAST view.