I did find a review/write-up online about testing E-Chips with a spinner bait for bass fishing -- it's the same technology. Here's how it works:
Impressions: E-Chip is a technology slowly but surely finding its way into the tackle industry. To date, it is available on salmon lures and even some lipless crankbaits for black bass. I'm sure there are other applications as well. Persuader American Angling now brings this technology to the spinnerbait market by mounting it on the hook shank of their new spinnerbait line. The device consists of a small, sealed tube with a small ball bearing and some ceramic crystals. As the bearing rolls around from end to end, it comes into contact with these crystals and the collision results in small electrical charges sent out into the water. These charges supposedly match those impulses sent out by baitfish when they sense danger. It's a seemingly simple system that reportedly never wears out.
Here is the conclusion the writer came to (bear in mind, he was likely given these for free by the manufacturer, that said, you rarely see many of the magazines give a poor review so you have to read between the lines:
Conclusion: Well, the E-Chip may or may not have had an effect but it certainly didn't make the fish jump into the boat. Then again, we had little expectation it would. The important thing here is, E-Chip or not, this spinnerbait is a quality build and should provide long lasting performance.
My two cents: If the hootchie is the same price -- can't hurt, so give it a try. If they are including a 5 cent E-Chip to double the price of the bait (and/or increase margins) then I'd suggest keeping the money in your pocket.