I have heard from inside information that Putnam was in fact using WizeTrade and Peter Lynch used it at Fidelity...
I have been WT, and have had success with it. But, it definately is not worth the money of how expensive it is, and any person can realize that the 4000 3000 2500(what I got it for) goes to their 'free' one day classes and front page ads. They also try and get others to buy it(During the WizeChat, the guy says 'refer a friend or family member, they get a bonus and you get 100$ for referring the person'). It may work for some and not for others.
I tried WT a couple years ago following their pitch at the Las Vegas Trade Show. They make it look easy with the red/green light thing, but even with WT it's not that easy. Not a matter of color blindness, nor execution, just that you still have to develop a system to trade and WT is only a tool. Some claim to make lots of money and I have no reason to dispute them. Many, like me, struggle with it and finally give up and return it (money back guarantee). I have a trading buddy and we had an office set up comparing WT to QuoteTracker, a very nice free software package. I noticed my trends crossing about 2 seconds before the lights changed and after some time proving it to myself, decided they were selling the software with excellent forum based support aimed primarily at new traders. Some of the experts claiming to make money have shared trading wisdom far beyond what WT does that told me they knew a lot more about the market than the average bear. They could probably make money regardless of software. Still interested? Check out the wizetrade forum at: http://groups.yahoo.com/group/wizetradeusers2/messages