Interesting reviews. The reviewers seem not to know much about character sets since the first one doesn't know why a curly apostrophe doesn't work. It would seem that it supports only ASCII text. It is not clear by the minuscule reviews is there is any font control, italic, bold, or any other kind of formatting. It is also unclear if images can appear. The reviews leave more questions than they answer in my mind.
It seems to indicate in the second review that you can run a copy of the reader on your pc in a browser and then paste the text from the paste buffer into the window and it will appear on your account bookshelf. There is no indication as to the capacity of the bookshelf. Guess I'll have to find someone who has an iPhone to find out how this really works.