I own that CVT.
Yes, its real. Its the two pully type. I beleive tyler is right--it is inefficient. It took some effort to spin it with my hand. I can't imagine that it doesn't eat up a bunch of power.
Also, its made for a pocket bike that operates at 7000+ rpms. It takes a lot of RPMs to get it to shift. I altered mine by putting heavier weights in it to make it shift at lower RMPs, but I've moved on without trying it.
I posted a video of me tring to make it shift with a power drill.