If it's anything like the gamepad controls (which also let you walk around like an MMO but don't require a mod) they will still happily walk through every inch of danger and pain they see, taking needless amounts of damage in the process.

I'm actually surprised it isn't available by default, as alternative control schemes like this in isometric RPG's is as old as Neverwinter Nights 1 back in the early 2000's.

Larian seems to have great attention to detail, so I wonder if they'll add it in a patch.