This is the first I've seen or heard of this, interesting.
He has pictures of the modifications for all to see and it sounds like he isn't making a dime out of this, but I'm kinda skeptical.
I know in the performance world people/engine builders go to a lot of trouble smoothing out and deburring the combustion chambers and piston tops/domes. The reason is sharp edges create hot spots which lead to detonation. The kind of detonation that can pound rod/crank bearings and wristpins to death as well as hurt pistons and break rings/ring lands.
Look at the last two pictures in the link below, one is the piston and the other the combustion chamber of a 406 chevy small block that was torn down after "plenty of run time". See those little shiny specks, particularly on the quench side of the combustion chamber? That is typical of detonation. Granted it could be the picture, or could be his particular combination of parts and/or compression. The owner mentioned something about the blue tint of the carbon, that probably has something to do with the fact the racing fuel he was using was tinted blue(racing fuel is colored like offroad diesel). If he's detonating on racing fuel he's doing something.
SOMENDER-SINGH.com - Jr's 406CI SBC burn pattern
On the performance side if this was the magic trick it supposed to be everybody would be talking about it. As far as economy etc, I can't speak for that. I do feel that I wouldn't do it until it's been tested/proven. Personally I wouldn't want to subject any of my engines to the kind of detonation that it COULD cause. Just the thought of it makes me worry, detonation can destroy an engine.