Phiten necklaces...What is the science behind the product and does it work?

(Image from: http://www.phitenusa.com/images/news/News-Article-Kara.jpg)

This afternoon I was flipping through a RW magazine from last May (again, I have a lot of magazines to catch up on).  Anyway, I saw that the "Olympian and track star" Kara Goucher started wearing a Phiten Titanium neclace after seeing Paula Radcliffe wearing one.  The claim reported in the RW magazine is that "[i]t supposedly helps your body recover and handle mroe work."  I was curious and looked up the website.  Is there actually any science behind this method?  I believe that the mind is a very powerful tool; therefore, placebos can be effective.  At that price, I might be willing to give the placebo-effect a try.  However, being that I am a chemist, I am very curious about how this whole idea works.  I'm about to head out for my run, so I'll have to do some more research on this later.

I'm just curious if anyone else has read about this product or even tried it.