Importing HW into a Wallet

There is a wallet which provides the option to import your HW using bluetooth and wallet connect.

Given the low number of commits, forks and stars on GitHub I am reluctant to use this particular wallet.

But, there are a good bunch of people who says they use it. In any case, I really don’t trust it. I am however willing to give it an honest shot; but I need to understand the risks.

Assuming that my seedphrase doesn’t leave the HW, what risks are associated with connecting to this particular wallet?

If, say, I only import X crypto, is these the ONLY funds that are at risk if the wallet turns malicious? Or is it also the remaining funds on my other crypto secured by my seedphrase?

Edit: I wrote import, but I meant connect.