Maybe. I have had surprisingly good luck with TTouch in general though...which I was completely skeptical about at first.
Also the names of the 'moves' are stupid too, but it does work for my horse, at least.
Truthfully, it strikes me as a gimmick as well. A horse will only lift his shoulders, collect, and re-balance with pressure from that if that is what he's already been taught to do. Most other horses won't respond to it at all until they are taught. I think it could probably be a decent tool to keep a hard handed person from yanking on the horse's mouth but it still doesn't teach them to be soft, it just prevents their yanks from getting to the bit.
I have used something similar when riding bridleless but I honestly don't see a reason to spend that much on something that is really nothing more than a length of rope that you could make yourself for less than $5.