After some time fiddling around, here is my brief review:
Pros:
Infinite customization.
Each color has 20 shades of brightness.
Pretty fun to explore all the different modes of fades, flashes, and jumps.
Each sequence can also be slowed down or sped up to your liking.
The remote also allows for DIY programming of effects and colors.
Good value for the money.
The light show really brightens up the game, and in the case of Playboy, fits perfectly with the aesthetic and colors of the machine.
Cons:
Only works with Stern machines (sorry B/W snobs!)
You will need a splitter if you have other mods running (eg. TRON mini arcade)