That certainly wont harm anything.
What i suggest you do is open up a sound editing program like the windows sound recorder and just check you can recored off your mic in to there.
If you can, I bet you just need to tinker with the settings in skype. No reason why is shouldn't work.
If your still having difficluties with your device, try PM'ing
Randal as he is running the same hardware i believe.
Hope this helps.
Matt
