I have no knowledge about this particular company, but I've used a similar product by Keeley. It's a bypass, no big deal. It offers true bypass plus the convenience of putting all your pedal switches right up front on the pedal board rather than toe tapping around. The whole idea of true bypass is a little controversial. Pete Cornish, the guru of $10,000 pedal boards is very dismissive of true bypass.
Bill, tgo