LMAO!!! They have a Fox News report giving it a thumbs up.
Unfortunately... It's Fox News... If there is any entity in the world that cannot be trusted it is News Corp.
Still though, the theory is sound. Capacitors do work, but the power savings is better for mechanical stuff like hot tubs, refrigerators, and fans. Purely electrical stuff with few moving parts, like televisions and light bulbs get little to no energy savings.
In places where the air conditioning is a huge part of the energy bill this device might pay for itself over the course of two years. In my home though I have two televisions for a total of nearly 400w when they are both running. My 62" plasma at 250w+ runs for 12 hours a day on the average. The lighting in my place, though some CFL's do exist, consists of heat lamps in the bathrooms and specialty track lighting in the kitchen and living room. Considering it does little to help with my lighting, entertainment, or the cooking of food in my electric oven, my savings would be minimal.
For the right person, like my dad who is a professional bowler and polishes his balls before tournaments with a 500w spinning noise-maker, and trims his hedges, and hot tubs to relax from it all, this product makes sense. For a couch potato pothead like myself... It's a dud for sure.