After looking at the code in more depth, I feel I should point out that it looks like `arguments.callee` is only the last-ditch fallback for generating a trace. I see baked-in support for Chrome, IE, FF, Safari, and Opera, and so unless your preferred browser is something else (or you want to target every possible browser) then you could change just a few lines to make it strict mode compliant.
This will severely degrade performance in almost every scenario. I don't recommend doing it by default, though it is a nice feature to have. Sometimes you want to be able to call console.log a few times per frame in a game without your framerate dropping into the single digits.