This product works perfectly for me so far. I have used this for years now, with no problems. I haven't had any problems with it, so I can't comment on Turtle Beach's customer service.
I use this device to send multi-channel, compressed audio (Dolby Digital & DTS) from my laptop to my home theater receiver. I send the video stream via HDMI to my TV. (My receiver is just old enough that it doesn't have any HDMI inputs; only digital coax and Toslink.) And the picture and sound are perfectly matched, despite passing over separate outputs.
The Micro II sends any audio format found on DVDs, including all the variations of Dolby and DTS. Note you won't be able to use the newer, supposedly better audio formats found on Blu-Ray discs. This is b/c the new formats can be sent only over HDMI, not digital coax or Toslink. You can still use the standard Dolby and DTS formats.
This thing is sleek and minimal in it's design. It takes up practically no space, requires no additional power source, and will fit easily in your laptop bag when you travel (although you probably won't use this much while traveling). Plus, the fact that it includes the mini-Toslink adapter is great (what a pain it would be to have to buy one more little thing just to make it work). And the connection is very sturdy; it won't pull out inadvertently.
Oh, and to those reviewers who are Mac users, you probably don't need to buy this. Unless your Mac is pretty old, it should have a dual-use jack that functions as a headphone and Toslink output. Just get a mini-Toslink adapter, which costs about five bucks (or less). You shouldn't need any other device to send digital audio via Toslink (unless, of course, you're using a Hackintosh, in which case all bets are off).