My understanding is that the de-phaser, as it's name suggests, adjusts the phasing of the cam shafts hydraulically based on a signal from the ECU. I would imagine the worst that can happen with a faulyt one is that the variable valve timing isn't as effective as it could be.
IIRC a Renault tech told me a few years ago a bit of noise is quite common, especially on start up when the oil has not warmed up.
IIRC a Renault tech told me a few years ago a bit of noise is quite common, especially on start up when the oil has not warmed up.