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Is there any articles or blogs that explain what this speed hack does? Is there anything that explains what kinds of issues it can introduce?

their is not an article about that but you have the information of those in your emulator when you put the mouse arrow on it !

You mean intc spin detection? The tooltip explains it. And it's harmless as far as we know.

The option (Not the tooltip) says that it can cause compatibly issues, the tooltip does not explain what these issues could be. Regardless, I'm more interested in the potential issues it can cause and how the speedhack operates, as I find that kind of stuff pretty interesting even though I am not a software developer.

These kinds of articles are examples of what I find really interesting:
http://pcsx2.net/developer-blog/88-path-...ncing.html
https://dolphin-emu.org/blog/2014/08/31/...gust-2014/

I don't care about the games used as examples but I find the information about how stuff was fixed, how stuff works, why stuff was done a certain way etc., interesting.

Based on what the tooltip says we can extrapolate:

For games that use the INTC register to time vsync, it detects this operation and skips over it. Thus it prevents the code from spinning while waiting for vsync, which is not needed in the emulator as the GS plugin handles that.

As far as possible problems, I don't think there are any. I think it says that just in case on crops up.