The couple in the first letter seem to have their reasons in order and have a good understanding between them about what they're after by experimenting with sex with other people, so why not? Perhaps there is a little risk that hearts may change, but that risk is always there, and I think it's better to have those changes come because you've taken control of your life and gone after experience, rather than waiting for them to happen passively, or, even worse, hiding yourself away in fear of it so real life never has a chance.
Set down some rules and expectations - there's a good book called The Ethical Slut that will help you know the questions to ask yourselves and alert you to different things you may not be thinking of now, but should.
Biggest problems I've seen: 1) a third party becomes to dependent and starts wanting to be taken care of like a child, or just expects to be too much a member of the family, and 2) couples telling each other too much or too little - the balance between honesty and too much honesty is delicate. Just talk it out and make sure everything is on the up and up and all parties know the rules. 3) mind games - people doing this to prove to themselves they're desireable. I really don't agree with the person who's been writing, crowing about how it brings out her competitive nature and she enjoys "winning him again and again." Ew! As far as I'm concerned, competition is a mind game and is one of the unhealthiest motivations for these relationships that exists.