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Well...
That webpage has all the classic markings of a snake oil pitch. Lots of claims, light on details. It does have some testing data, but not for gasoline engines.
Chip Foose is a smart guy with a great vision for designing cars. He's a very accomplished artist. However, he is not an engineer and not a chemist. I certainly wouldn't buy it because of his claims. I wouldn't mind some of his wheels though.
On the other hand, the basis of how the device works appears feasible, unlike most snake oils. I wouldn't immediately throw it in the Unicorn Corral....
yet.
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