How does Talleo webwallet work?

First of all, it is very user-friendly to log in with email and passcode (which is sent to email) instead of Metamask and Ledger.

But how do you do this? And most important:

1. How safe it is? What are the security concerns here?
2. Do you store my private key on your centralized server? How do you encrypt it?
3. What if your server disk with my key will be corrupted?

I just really like the #webwallet concept instead of browser extensions, but really concerned about security.

And some additional questions about Talleo web wallet functionality:

1. What is "Anonymity level"? How does it work.
2. Is "View key" the same as "public key"?
3. Is "Spend key" the same as "private key"?
4. Is "GUI import key" the same as "seed"?
5. What is "Faucet address"?