Welcome to the club bro. I personally bought one 2 years ago dahil gusto ko makita ang nasa loob ng fancy led running lights display device na yan. The main or the only power savering component is a 4.75 uF capacitor use to correct the power factor.
Marami na rin mga masters dito have both theoretically and practically tested similar passive power factor correction devices and have come up with the conclusion that it does not save any power and sometimes even add additional power consumption.
My stand is and I still yet have to prove to myself is that it actually works but that the power savings gained is so insignificant to consider it a savings specially if you want to recover the investment paid for the device.