so i got on and did some research. that news video was released in July '08, almost 2 years ago.
the one in the news states that is using potassium hydroxide, which is a lye like the one used to manufacture soap and is either sodium hydroxide or potassium hydroxide also known as caustic soda - highly corrosive. the reaction between sodium hydroxide and aluminum releases hydrogen, not sure about potassium hydroxide - but the news video did not mention aluminum (plus what would be the cost of the hydrogen if you need to spend money on aluminum as it is not cheap).
usually you break down the water in hydrogen and oxygen using electrolysis and the use of an electrolyte (which is where the potassium hydroxide comes in play). Question is how much will it cost you to produce the hydrogen and how much power will it use to produce it (it uses electricity, so the alternator will have to work harder to produce that extra energy).
that's as far as i got...