Heard this a few months ago and been following their progress up till ShotShow 2011 when they announced the public availability of their cold-tracer invention called Trajectory Identification Technology. It looks like a small sticky disc that you attach behind a bullet before you reload it. Here’s how it looks like shipped.
I believe Glow Ammo reacts to the gun powder as it ignites in the chamber and glows, much like a glow stick would. Initially I thought it was heat that activated it, I tried lighting it up with a lighter and it melted instead of glowed.
I recorded a video of my initial experience with it :
Each box comes with 255 stickers and costs around $51 shipped. Can’t wait to take it to the range next!