Complex sentence: The term "bleeding edge" is formed as an allusion to "leading edge" and its synonym cutting edge, but tends to imply even greater advancement, albeit at a greater risk of "metaphorically cutting yourself" because of the unreliability of the software.
Split into simpler sentences: The term "bleeding edge" is formed as an allusion to "leading edge". It tends to imply even greater advancement, albeit at a greater risk of "metaphorically cutting yourself" because of the unreliability of the software.