I find it funny you say "little gay lookin things" and "not calling bullshi* on em" in the same post. Seems kinda contradictory.
I'm friends with the guy who came up with the concept. The idea is to mimic the effect that the little caudal finlets in front of a tuna's tail has... that is, to create small vorticies (spinning water) infront of the high-aspect ratio tailfin, thus reducing drag along the base of the fin where it attaches to the board.
He has done a ton of research on the topic (some of it with my help) and I'd say he has some sound principles. I have them on some of my boards- IMO, they definitely do not seem to be slowing anything down (as so many people say they will), and I think they give the fin cluster a little more mobility (something I like in my boards). Similar to the C5 concept, but with some technical differences.
So far repeat users include: Matt Kechele, Nick Guilarte, John Holeman, Greg Loehr, Sam (Loehr's right-hand man), Herb Spitzer, a number of guys in NJ (myself included), and a bunch of other people I don't recall at the moment.