This site did not show evidence of storing passwords in plaintext.
This site does allow secured connections (https)
This site did show a clear way to unsubscribe from their emails
This site does verify your email address.
Below is a sample of the emails you can expect to receive when signed up to Flyspray.
Username: race20836 Your confirmation code is: 1c3020603be31f509bf4
You are receiving this message because you have requested it from the Flyspray bugtracking system. If you did not expect this message or don't want to receive mails in future, you can change your notification settings at the URL shown above.