I am also a skeptic now, as well. However, it "seems" to be doing SOMETHING. I did a control test based on sleep, and without the widget, the phone's idle (tracked with juice manager) bar slope was higher than that with the widget (kinda confusing, but tracked on a graph, battery depletion while asleep was greater without widget, than with). Basically implying, the widget is managing sleep times better. However, it did "seem" to me that when the phone was awake, the battery drain was faster with the widget versus without.
Maybe this is simply a placebo effect, but my phone doesn't know that, and thinks it's getting something good...
If you're a heavy user, my suggestion would be to uninstall, and do all the other things that have been listed to increase battery life.
If you're a light user, install it and see if it helps. If you see no change, or it hurts, uninstall it.