Funny you should mention this...I had a post similar to this awhile back!
Our young family group was looking for information to have an inservice on this. Anyway lots of copy right laws....
But we ordered the video and watched it and just had a chat.
I think it has some good ideas but as other say it isn't the end all and be all. I also think when you start this is important too. We have always used counting( before we need it was a "style"), the kids got 3 chances to stop or they would have a punishment/time out or something taken away.
The difference with his approach as I see it you only say "That's one....wait then That's 2 and that's 3 take 5 or how ever long time out is.
If they do something that is really over the top or wrong, Hit their sister or dog you then say that is 3. You aren't suppose to talk even after the action which I have a hard time with. Granted the ground rules need to be set before hand. But I found my kids would do things I never dreamed they would do! LOL!
Granted that is a very general over view or my take on it. I think the main thing I got out of it, consistancy is the key. One parenting book I really liked:
How to talk so kids will listen
http://half.ebay.com/cat/buy/prod.cgi?cpid=141836&domain_id=1856&ad=53983&gateway=1 Hopefully the link will work.
I went to a 6 week work shop ( 11/2 hour per week) it was very good and I would highly recommend it if you get the chance.