I have one of those.
Inside mine it's a M7N. No compass, as cliff said. Small, but poor in satellite reception.
I had a M8N, a mushroom type, like the one cliff said but without mag cables, and meanwhile I solve the mag wiring I decided to mount the one you shows (I think is the same, Aliexpress/Banggood) for reducing weight and to give it a try. In the same airfield with the big one (M8N) sit over a mast (
http://www.tarot-rc.com/index.php?main_page=product_info&products_id=1259) got over 16 sats, very quick, very reliable. M7N mounted over the frame on one arm (a Tarot 250 quad) got 6 or 7. I haven't done deeper checks (I have read about differences between M7N and M8N but no real experience) but at first sight the small one looks like poor reception gain.
Apart of that, the communication with Revo was correct, no config problems.
In short words, it is compatible without troubles but less quality. If you are going to use autopilot and the big one fits in your frame I should get the one cliff says. for the money difference, it worth it.