**Update**
The information contained below is for historical purposes only.  I'm leaving it basically intact so that anyone else who comes across this thread (who themselves probably had the same misgivings I did), can review it later and come to their own conclusions.  I'm not endorsing them, but my stance has changed to the point that I feel as comfortable with them as I would about anyone else i.e. Dwolla or PayPal.
**End Update**

To the best of my knowledge they have not taken anything of value from anyone, however they are asking for AML documents and their onus for the request is that it is required for compliance with the BVI Financial Services Commission AML initiatives. In fact a search of the BVI database of registered entities turns up no record of either OKPay or their supposed parent company UWC Financial Services Ltd.  I was also unable to find either company in the BVI register of companies.
You can check this for yourself at http://www.bvifsc.vg/en-gb/regulatedentities.aspx

In fact the only trace I could find of either company is a company that says it used to be UWC Financial Services Ltd and is now calling itself Mayzus.  They aren't registered either.

Considering the amount of paperwork they are asking for before you are allowed to withdraw a cent I find it appalling that they don't provide any sort of legitimate information about themselves.  Not an operating license number, an ombudsman or anything.  There is no customer service contact information and their customer support seems to be all but non-responsive.

They don't even link to the FSC site or explain specifically what regulation is triggering the request for all this information.  I would think if you're requesting passports, bank statements and utility bills that you should have a legal obligation to do so and at least be able to cite the law requiring it.

So be careful, not properly registering as a Money Service Business, Money Transmitter, Bank or Financial institution is why these exchanges including MtGox keep getting shut down and seized by the authorities.  It's not like there is some huge conspiracy against them, it's just laziness on the part of the owners.

Therefore use extreme caution, OK Pay looks like it could drop off the map and no one would be able to find them.

Thanks for listening!