Instructions are to swipe the band to change the value/color. You can move your finger less than 1/4 of an inch, and cycle through ALL possible colors - VERY difficult to select the color you want. I cant imagine it would be that difficult to make the swipe less sensitive - and no compelling reason to use a swipe beyond the "gimmick" factor in my opinion.
Fix that, and it becomes at least somewhat useful - would also be good to have the ability to put in a value, and have it show you the resulting color code. Again - great idea, and I was excited when I found it, but am taking others advice and getting "iResist" instead.
Sprout about iResistors