OK, it works ....
So I bought one to solve a problem that I had.
I run an 11s LIPO (2 packs, 6s pack and a 5s pack 5000mAh) in parallel with an 11s (LiMn) Trek Ride+ (Bionx) battery. It gives me a total capacity of about 10Ah and a nominal 41V system. I ride it down to 20% or so and just bulk charge the whole mess with the Bionx charger. After 30 rides or so, the LIPO packs develop small imbalances -- like a range of 4.11 - 4.16 volts at full charge.
Since I don't really know how much imbalance is "safe", I generally pull them apart and balance charge about once per month, but that takes a lot of time and means breaking and re-making connections I would really prefer never to touch.
So when I saw this "balancer" I thought "what the hell, this could solve that problem". I bought one.
So now I just hook it to the balance lead of each LIPO pack and in about an hour, the pack is nicely balanced within 0.01V and the balancer goes "off". The balancer gets slightly warm but not hot and seems to work quite nicely for small imbalances. I don't leave it hooked up and I don't know what the current draw really is in the "off" state. I do know that I have left it hooked up for up to 4 hours without any drop in voltage (<0.01 V).
So for me this is a nice addition to my set of tools.
An update (October 2015) -- did find a down side. I hooked this up to balance out a couple of 0.03V differences in my 5s 5Ah LIPO pack. I checked the progress after about 30 minutes and it was half done. Then I COMPLETELY forgot about it and left it hooked up for about 48 hours. It apparently finished the balancing and entered "sleep" mode, probably within an hour of when I last checked it. However, over the next 47 hours it apparently continued to draw current and when I remembered it, it had drained the first three cells somewhat. It should have balanced out at 4.15V across the board and gone to sleep, but after 48 hours, it left me with 3.90, 3.90, 3.90, 4.15, 4.15. So the current draw in sleep mode is NOT zero, in fact, it seems to be relatively large. Since the three low cells are the ones that originally were high, I think that perhaps there is no sleep mode, and it just continues to draw down the same cells it was drawing down before it reached "balance".
In any case, the moral of the story is don't leave it unattended for 48 hours.