I have personally tested ACF and appears to be functional.

2 things to note:
- The SVN link has changed, make sure you are using the newer one.
- Until it is fixed, the following file has to be changed manually:

garrysmod/addons/acf/lua/effects/acf_tracer/init.lua

Change the backslash in this line:

local Light = self.Emitter:Add( "sprites\light_glow02_add.vmt", self.Origin )

to a forward slash:

local Light = self.Emitter:Add( "sprites/light_glow02_add.vmt", self.Origin )