I've never heard of, or used it, but i would be very sceptical of anything which claims to eliminate the need for water changes. Don't be brainwashed by these products as there are thousands of them and they're generally useless.
The only thing you need in your aquarium is filter media in your filter (which you already have) and dechlorinator in the water (which you already have). Everything else will pretty much take care of itself so long as you perform regular water changes.
Especially at $58, i'd spend your money on something else.