There's probably some software you have to install to allow you to watch the video from it. That said, even if you managed to get it to work, the only resolution you'd be able to get is 480i standard resolution video, which is hardly very good-looking.
I did some reading on it, as well, and it seems to be more of a video/audio capture software/hardware. Granted, you could probably just leave it on and delete the "saved" file afterward, but I'm not sure how well it'd work.
But if standard resolution video is fine with you, then by all means, try it out.
that wont work... well technically you will be able to see the video. but capture devices like that always lag the video at least a second or two, making playing a game worthless.
