Sharing a terminal with multiple users (with screen or otherwise)

I am setting up a server where there are multiple developers working on multiple applications. I have figured out how to give certain developers shared access to the necessary application directories using the setgid bit and default ACLs to give anyone in a group access. Many of these applications run under a terminal while in development for easy access. When I work alone, I set up a user for an application and run screen as that user. This has the downside that every developer to use the screen session needs to know the password and it is harder to keep user and application accounts separate. One way that could work is using screen multiuser features. They do not work out-of-the-box however, screen complains about needing suid root. Does giving that have any downsides? I am pretty careful about using suid root anything. Maybe there is a reason why it isn't the default? Should I do it with screen or is there some other intelligent way of doing what I want?