I still say it works. You can't convince me that 10 days in, at 500 calories a day, with no hunger (other than the obvious psychological cravings) that there is any way I should have been able to hit a PR on deadlifts (for reps, at that). If my thyroid wasn't screwed up during that time, I believe I could have ran it for the duration and been successful.
I don't think it's a solution that many should seek, but I do think that in certain cases it's not the worst idea out there.