It's a challenging class but I would recommended it because you'll be shown how to use the equipment in the performance lab (lighting board, sound board, projection etc.) which you'll eventually encounter in 3rd and 4th year classes.
We were required to attend all the Honours Performance Series shows along with two professional productions outside of class and write papers on them, so be prepared to spend your own money and time doing so. There's also lot of group work and some little independent assignments.
Other than that, it's a good way to get to know people in the theatre/film department.
If you have any other questions, feel free to ask!