When this thread popped up I did a bit of reading on the subject. My gut reaction was(is) that it's likely a scam, however even the small chance that it could be real is very interesting.
Now that it's about a month later I did some more searching and it looks like things are progressing:
http://energycatalyzer3.com/What do you guys think about the new developments? Is that site a scam? Are others seeing potential in spinning off the same scam? Looks like the meet up in MIT might be real but didn't dig around very much at all.