Wait a minute, you mean you can't use it to open doors and locks in Skyrim? You got to be kidding me. What the heck is the point of it then?
Can you still pick pocket people from a distance with it?
Nope, just pick stuff up with it

I though it was bugged out when you carry a ebony sword? Having the sword equipped but not out while casting the spell causes it to throw stuff much harder, I'll have to look it up. It is useful for throwing bear traps at people like has been said earlier in the topic, it's grand fun

but you have to be rather close to them to actually hit them.
edit: upon looking, I was unable to find anything about bugging it out, only how to Lv. alteration fast with it.