It does work, though in my experience not as well as a simple copper citrate or copper sulfate solution. Though it does not seem to be as harmful if overdosed...but those are just my observations, purely anecdotal, not based on any data.
The major disadvantage is that you cannot accurately quantify the copper level in your hospital/quarantine tank as the active ingredient is a chelated copper compound, and as such does not dissociate into readily identifiable ionic constituents. So it does not register on commercial copper test kits.
That being said, despite the disadvantages I use it in my home aquariums as I feel it has a wider safety margin than straight copper salt solutions.