This type of torch has been around quite a while, it is commonly used by jewlers.
As for fuling vehicles, don't be fooled, be fuled.
Here is a link that gives the detail lacking in the video.
http://en.wikipedia.org/wiki/Oxyhydrogen "The most common and decisive counter-argument against using the gas as a fuel is that the energy required to split water molecules exceeds the energy recouped by burning it, and these devices reduce, rather than improve fuel efficiency"