This is an interesting product. The wing light, at least, addresses one issue that the fong'alizer doesn't -- the size of the light source: Well at least in one dimension
RL please take some portraits outdoors! I'd like to see at least the 'horizontal light wrap" capabilities compared to direct flash when there are NO reflective surfaces. If you get close enough to the subject, the horizontal light will be large but the vertical light will still be a point source. that should produce interesting results.
the thing about any device that is small but claims to produce big light is that they all depend on other reflective surfaces -- and this one is no exception. look at the product video and note that in every example shoot there is a plethora of wonderful white reflective surfaces that would produce bare bulb heaven for even the lowly stofen omnibounce. A hallway with close walls and ceiling, for example, as shown in the product slideshow, will make most any diffuser look good. Personally, bouncing off of the floor seems odd to me, as not many floors are the right color and not many models/subjects look good when lighted from below. Typically, ceilings and walls would make better light sources.
However, if you are in a situation where you do NOT have viable reflective walls, I would expect the Wing to assist with the horizontal size of the light source -- like an event where the room is large, walls are too far away, the ceiling is at a reasonable height and you can get close enough to the subject so that the Wing appears "big". the other advantage I can see is that the Wing would tend to increase the size of the ceiling light source. how much of a practical dvantage, compared to a bare bulb diffuser, is not immediately clear.
Thanks RL; show us some photos!