It has some merit, does work for me a bit, but I'm not satisfied when I eat because I'm more restricted and I don't feel empty or full. I also don't like feeling that I always have something on my stomach and I also can't always get time to grab something. I have taken the principal though and use meal replacement shakes at work which works for me though they are not high protein or a piece of fruit, basically stuff that is easy. It isn't easy to grab something to eat at my job and I can go for 8 hours before I get my meal break.
The idea of the small meals through the day is to keep your metabolism up where if you only eat 3 regular meals you have time in between where your metabolism slows because the body goes into starvation mode.