I bought this around a year ago, and it's worked fine. The light on/off is controlled by a button, and the charges seem to have worked fine. It comes with two rechargeable Wiimote backs, which replace your current backs but look identical (apart from two metal squares needed for it to charge near the bottom). The NiMH AAA batteries (x2 for one Wiimote) can be bought as a 4 pack for £10 on Play.com also. There is also a switch at the back which allows you to change the charging from Wiimotes to the AA charging bay - an area where you can fit two rechargeable AA batteries into the stand. Also, a red light shows when the remote is charging, and flashes when it's ready to use.
The only problems I've had have been recently, where one of the remote backs won't charge anymore with the slots. This means I'll probably have to buy a new charger set for my Wii, but for £10 lasting a year, it's worth it. Even if not used to charge, it still works as a perfectly good stand, with LED's still working, and can still charge AA batteries despite one of the slots no longer working.