Skimmed most of the articles.. I don't really understand how it's much of a scam. Most of the claims aren't that it doesn't exist, but that it has 'stolen' code from PearPC (an established PowerPC Emulator)
This said that wouldn't make it an Operating System, but an emulator. The impression I got from the site and Macworld is that it is a stand alone Operating System, which can run MacOSX programs under an x86 Computer. It would enable people to carry simply an x86 Computer around with dual-booting rather than both a Macintosh and PC-CD.
Down to if the code was stolen or not, there doesn't appear to be any proof just constant rumours. This is actually often the case with programs such-as this, those who don't like what it means for thier little fan base throw up the red flags and create an air of controversy that either delays products that people need or causes people to just drop projects altogether because of the hassle they recieve.
At the end of the day code is only stolen if they don't purchase a license in order to use it, which means a deal between this Hawiian and the PearPC guys. Either way, doesn't particularly bother me provided he can provide what is promised, as PearPC doesn't come close to 80% speed emulation!