Quick Google search, as ever a products benefits seem to be exagerated.
http://www.thetruthaboutcars.com/2008/01/redline-waterwetter®-review/
Excuse the dumb question. If it doesn't cool any better than the existing methods, what is the benefit? I'm intrigued.
They are selling it on the basis that without water you won't get corrosion and the product is supposed to last the life of the car so you never need to change it. When it was launched many years ago it had advantages over traditional blue Ethylene Glycol water mixes.
Coolants have moved on in Recent years and the latest OAT based coolants G12 , G12+, G12 ++ and G13 are very effective in halting corrosion without any of the downsides. The very latest G13 coolant contains I believe 20% glycerin so is more green than the G12 coolants.
If the coolant is changed as per the manufacturers spec then you shouldn't have any issue.
Problems start when people don't change the coolant, or the car develops a leak and they just top up with water diluting the the concentration.
There are loads of resources on the net showing the effect of using different cooling fluids.
http://www.engineeringtoolbox.com/ethylene-glycol-d_146.html
http://www.engineeringtoolbox.com/propylene-glycol-d_363.html
This is quite good and explains well the main topics discussed above and why good old water isn't so bad as long as you can stop it from freezing and corroding things.You can see another downside of pure ethylene or propylene glycol is it's freezing point.
It's a strange thing that the optimum ratio of water to coolant to get the best freeze protection is around 65% coolant to 35% water . but if you keep adding coolant you end up with the freezing point being worse. 100% coolant like Evans is will freeze at about -15.
Thats why manufacturers recommend 50/50 mixes for the best freeze protection against heat carrying capacity.
http://hellafunctional.com/?p=629