Alan, I hadn't tried it, but I downloaded the demo and gave it a spin just to see how it would work. I didn't download the manual, so I may not have been doing everything correctly, but then I figure that's part of the test of software -- can it be used "intuitively", or does it require a big learning curve?
I tried it on a few of the more difficult recent colorcast images submitted here, as well as a couple from the software's website -- it certainly can cure some difficult colorcasts, i.e. comparison below between EditLab correction and correction by PStewart of the "red" child --Partial color cast
It appeared to me, however, that the results were variable -- if I did the same image more than once -- I'd get different results. That happens with PShop's tools also, but it seems to me it is better to spend the time to learn PShop's tools (Levels, Curves, etc.) since you will probably still have to work on the image after using EditLab. If it was an inexpensive plug-in, it would certainly be worth adding to the toolchest. I think it would be worth adding to the toolchest if you can afford it at the current price -- but NOT in place of learning PShop. I think it would fix some images, but leave others still needing some editing -- which you still would need to learn to do. My opinion.
Also, I think the "skin" tone correction doesn't allow for the diversity of skin tones in people -- that might be something that the software's documentation addresses (which I didn't bother reading).