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I'm no electrical engineer, but I am skeptical.
1) The site reads like it is just a big ol' capacitor.
Capacitors are rated in farads, not amps, but a farad is 1 As/v... and a capacitor that could discharge 50 As @ 220 v will cost you about $35 at an industrial supply store. (disclaimer - see my first statement)
2) The site claims that a motor, upon startup, sends a request for the electricity up to the transformer. The electricity is in the wire already. Don't believe me? Go lick a drop cord. And that big-assed stepdown transformer could really care less about an extra few amps of demand surge when that motor starts.
You want to really make a difference in your electric bill?
Turn off a few things. Especially things with "ghost demand".
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The souls of the righteous are in the hand of God, and no torment will ever touch them.
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