Well, it isn't meant to be outdoors since it is not sealed from the elements. It is pretty tough and expensive to get a "weatherproof" multiswitch, and most of them are Taiwanese garbage. I have my Spaun totally out in the open laying on it's back with the label up. If I could help it I would definitely mount it indoors. Although it's working fine outside right now, I purchased a backup in the event this one fails.

Assuming that the Spaun is in fact moisture-proof (which I doubt), you also run the risk of temperature. Here in NY it can be 20 degrees at night and 40 during the day this time of year. The constant fluctuation in temp is probably not good for the electronics in the switch.

I have been looking into protecting the switch for some time now. The best I can come up with in my situation is wrap it in shrink wrap and melt it on there with a hair dryer. I plan to try this soon.

To answer your question, I would put it outside only as a temporary solution then figure out a way to waterproof it. If something bad happens to that switch it could possibly hurt my receiver(s) since that's where it's power comes from.