All the studies from the link I posted seem very conclusive, the aquatic beetles are native to this area and do not harm other species. The studies going back to 1998 show a healthy rebound of natural species.
The beetle has proved to be a very effective control agent in extensive field trials. Depending on the initial density applied, the beetles take from two to four years to permanently stabilize EWM below problematic levels. Most importantly,the MiddFoil® process is environmentally safe: the beetle does not damage native plants or animals because it is native to our North American ecology. As EWM decreases in the treated lake, the beetle population gradually declines to a self-sustaining level.
I agree, who wants to swim with a bunch of bugs

but then you would have swim in the milfoil to get near the bugs
The stocking of weevils into Van Etten Lake between 2000 and 2001 resulted in severe damage to EWM beds throughout the lake. The weevils successfully overwintered and returned to the lake in large numbers and have established a thriving population throughout the lake. The MiddFoil® Project in Van Etten Lake was so successful that a planned third year of stocking was eliminated.
It just seemed to me that the bugs were a better solution than chemicals and the long term (8 years) results show nothing detrimental but rather allowed native species to rebound and balance the ecology of the lakes studied.