This can explicitly help indicate the owership and licensing of user posted content on Facebook like Flickr. Hope this application send some waves to Facebook guys to get their house in order regarding this touchy issue.
Coming to Creative Commons badge – being new, it has share of limitations. For example, you can only mark all photos in your account under one license type and cannot do it selectively per photo like on Flickr. Grab Creative Commons License application [via] and explicitly show your content license terms – hope Facebook does something similar officially!