Digital Home Thoughts: U Mix It? You Mix It? What's This Software Called?

Once I got over the urge to repeatedly jam a screwdriver in my ear after hearing Intel's CEO Craig Barrett "sing" (but he knows how bad he is), I was really intrigued by the software they called "You Mix It". They say it has the ability to strip out audio tracks (drums, bass, vocals) from a song, which I would find very useful for learning songs. Based on the demo though, I have a strong suspicion that this software only works on CDs and DVDs that have the songs in a per-track format. They make it sound like you can use it with anything, but I doubt that's the case - once a song is mixed, you have to get into frequency isolation to try and bring up/push down certain instruments. Has anyone tried this software, or know more about it?