I've been warning people, on various forums, about "MemoryUp" for close to two years. The company doesn't hold up to any kind of scrutiny at all, early posts are incredibly suspicious, and the claims seem ludicrous when you consider that this is a Java app, running in a protected space where it CANNOT affect memory used by other apps, and it CANNOT modify the way the OS works, allocates memory or frees it. There have yet to be ANY real lab tests or credible reviews written of the product.
There's a thread over at the link below that summarizes the situation as of about 18 months ago:
MemoryUp?? Ram Booster?? Does it work? - PinStack.com
Here's a link to an article about the G1 version causing damage (while doing nothing positive):
http://gizmodo.com/5138822/rogue-and...talling-adware
These guys are bad mojo, and they've been getting away with selling this fake app for a couple of years, on many different platforms. I'm amazed they keep getting away with it (and yes -- I've already reported them a couple of times for Internet-related fraudulent activity).
I can't begin to imagine how much these guys have made off a bogus application -- snake oil for mobile devices. P.T. Barnum would have understood all this...