I HAVE ONE!!! I think it works great!
So, the setup is a canister that sits outside of the tank that holds the bacteria. There are two hoses that run from the canister, one is connected to a small water pump with suction cups that sticks to the glass under the water inside the tank, this is what pumps the water to the canister. The other hose is the output of coarse, and this has a small regulator that you have to turn to open all the way, or close all the way.
The idea is the water goes from the tank to the canister, (where the anearobic bacteria deplete the water of all
nitrate and oxygen) then drips back into the tank at approx 1-2 drops per second. Cycling all the water in your tank once a week (they sell different size filters to go w/your tank)
I have tested the water coming out of the drip tube and it was completely Nitrate free!! COMPLETELY, LIKE BRIGHT YELLOW IN MY TEST TUBE!
The catch, if there has to be one, is you have to watch your flowrate and check to make sure it's dripping 1-2 drops per second. If your colony is "blooming" in your canister, it can stop up the flow, in which case you open the valve all the way to unclogg it and then adjust it back to 1-2 drops per second. You clear the flow every 2 days. The hazard in leaving it open to flow at a faster rate, is that the water coming out of the Aquaripure is lacking in oxygen, so you can have some major annoxic conditions in your tank if left open. (which I did by accident, whoops, and I e-mailed customer service at aquaripure an someone got back to me the same day and told me what to do...lots of water changes
You also have to feed the bacteria in your canister once a week. You feed it Vodka!! Those little guys have a party after that and stop up your flowrate and it needs to be cleared two days later!
I don't mind doing these tiny things every other day if it keeps my nitrates down under 5ppm all the time and I am checking out my tank all the time anyway, so it's no time at all to adjust my flowrate. If you go on vacation, they say it's ok, the filter will still perform, it may just not be as great as usual. You still have a mechanical filtration to filter out physical dibree and to keep the water in the tank moving, you also need bubbles as the denitrified water has no oxygen. The only reason you need to do water changes is to vaccum your gravel.
Something else I noticed. I recently did big amature no no and added fish to my tank while throwing out all of my filter media (which I guess has a little bacterial colony of it's own on it) I thought my Aquaripure was responsible for that, however, I had a cycling problem and thought maybe my Aquaripure colony was dying or something. So I tested the water coming out of it and it was still 0ppm Nitrate, however, still had the same Ammoia
PPM as in the tank, so I guess Aquaripure processes Nitrate only

and I have to build up another colony to do the first half of the cycle (
ammonia to
nitrite to nitrate)