so basically the idea is that the fish goes for the fly.. and when you feel that you pull back on the line and in doing that you pull the hook into the outside jawline.. and since it is a circle hook it sets itself into the jawline instead on in the mouth??
MacFly
That is the way it looks to me. I Know that is how they fish the EGGS.
Just interesting to see rubber nymphs, and a little mad I didn’t think of it first LOL
Oh well, I don’t fish for Steelies…YET! Lord knows, I got the gear 
so is this “technique” only for steelies.. or can it be applied to any fish??
and now begs back to a question for the ages.. is it fly fishing.. in this case a fly is used to lure the fish in.. you are just setting the hook differently… whereas in a more “traditional” approach the fly is the hook..
oh.. and you and me both on coming up with this first.. lol.. 60.00 for a starter kit?? if this takes off someone is gonna make a good chunk of change.. 
MacFly
when i was looking at sites about it they called it a trout bead set up so maybe they use it on trout also.
I can see using this on larger fish that have a stronger jaw like a steelie or a trout..maybe push it and say the large and small mouth bass.. but I would think sunfish or panfish would be harder to catch.. and possibly do more damage to them to a point where they might not survive..
MacFly