Having an open mind on this, I'd be interested in the science behind it as well.
Wikipedia has a page on
light therapy, though very little on this sort of device. Red light is mentioned in the treatment of acne, but it appears blue light is preferred (do horses get acne?
). There is also some (unproven) concern that blue light may cause DNA damage, and those taking St John's Wort are also contraindicated.
Dr Brian McLaren, who apparently developed this device in association with Torkington, states quite explicitly
"The McLaren Photonic Therapy unit, of itself has no healing power of any kind, and no claim as such is made or implied."