Looks to me, as others have pointed out, that it just uses the piezoelectric effect of ceramic caps. Note how there are 6 groups, one for each string.
The 'condenser' part is not only because that is the old-school name for a capacitor, but also (because of that) capacitor mics are referred to as condenser mics, its just what the audio industry would call it. It is probably a lot cheaper to manufacture than a standard piezo strip, its just the cost of the PCB and populating. Using supercaps as the power source is interesting "charges in 60 seconds" and claims lasts 16 hours. I'm assuming that is regardless of whether one is using it or not (self discharge? I'm assuming its always 'on').
As for how it sounds, I would have thought, based purely on its placement that it'll sound just like a standard under-saddle pickup, brittle and full of treble. Some like that sound, I'm not a big fan, but its pretty much the only option for live amplification.
As a side note... I've had some success with wiring an under-saddle pickup in parallel with a soundboard pickup (before the preamp). It seems to have the benefits of both, and reduces the downsides of both. (the 'quack' is gone, and the soundboard pickup isn't as boomy/bassy).