They say:
The stuff is a simple mixture of table salt and tap water whose ions have been scrambled with an electric current. Researchers have dubbed it electrolyzed water—hardly as catchy as Mr. Clean. But at the Sheraton Delfina in Santa Monica, some hotel workers are calling it el liquido milagroso—the miracle liquid.That's as good a name as any for a substance that scientists say is powerful enough to kill anthrax spores without harming people or the environment.
And
It turns out that zapping salt water with low-voltage electricity creates a couple of powerful yet nontoxic cleaning agents. Sodium ions are converted into sodium hydroxide, an alkaline liquid that cleans and degreases like detergent, but without the scrubbing bubbles. Chloride ions become hypochlorous acid, a potent disinfectant known as acid water.
However, some mail at Chaos Manor points out that this is nothing more than weak bleach.