everytime you downshift the gear, the clutches slip to make the engine revs.
once the transmission is in gear and the engine matches the RPMs, it's ok. So if you are in 2nd gear already then keep it in 2nd gear to slow down, no problem. When it's time for upshifts, the transmission is at high pressures so clutches doesn't slip. On some electronic transmissions, the ECU retard engine timing or cut fuel while the transmission shifts, so the engine add no stress and it's easier for the transmission to drop the engine revs.
you can use it when needed, but i wouldn't use it all day long. Unless you put in in neutral and rev the engine so the clutches won,t slip.