I may be in the minority on this one, but I think it's a bit hokey.
Having smoke come from your hand when you vanish something is too over the top to really be astonishing. As soon as people are stunned by the unexpectedness of seeing the smoke appear, their minds will race for an answer as to how it was possible, and I don't think it's any great mystery as to how it works. I doubt people will have much trouble arriving at the correct conclusion--that you had "some kind of smoke device up your sleeve."*
Also, I have a feeling that those who do end up getting this and taking the trouble to walk around with it strapped all around them are going to feel the need to justify it by overusing it in their performances. And using this more than once in a performance will certainly be too much.
I watched the video E has up, and I really do appreciate the thought and engineering that went into creating it. Seems like E really did their best to make what it is they were aiming for a quality product. I just think, in the end, the effect created is not going to be deceptive enough to keep an audience away from hitting on the correct method.