Yes, that means it is not a stable release as per developer/community.
The best way to judge development snapshot release before enabling it on any site is to look into the Maintenance status and Development status fields, if you mean to test the module before starting to use it. Then go through the issue queue and see what kind of issues are going on, if they are serious, if they are getting addressed, etc.
When you finally decide to install it, test it for your site. If you find issues, report them in the issue queue, help in development as you can (reporting an issue is also a big help), give more details if the maintainers need more information.
Use it if it still suits your need.