Here's another device that provides some explanation

The effect of magnetism and ionization can have some applications not only in audio but other areas too

http://www.esmotech.com/ESMoSPHERE.html

May not be exactly the same stuff, but it does demonstrate in their case studies that magnetism does have an effect on biological processes.

Check out their wine enhancing coaster... ;-)

http://www.esmotech.com/Mol Burner.html