It's not necessarily a fraud, however the TV spot and video testimonials are complete bullstuff, and have horrible acting. It even says on their website that the Fushigi ball is made for the activity of, as Eksi said, contact juggling. It doesn't make you any better at contact juggling, it's simply a really cool ball to use for contact juggling. You can clearly tell in the video testimonials that all the people they're paying to say "Awesome!" or "Fushigi!" or "Mesmerizing!" or "<insert positive remark about the ball here>" have little or no contact juggling experience, which is why you only see them on camera for about 1-2 seconds, if that, while the people wearing Fushigi shirts are noticeable experts at it, hence why they're almost always on camera.
So no, it's not a fraud, you just need to read the fine print, which, in essence, isn't really all that "fine." It's not really even a gimmick, it's just another option for something to use in contact juggling.