The possible mechanism on how the Meg actually works, I believe, is
described in this 1998 patent WO9840960:

http://l2.espacenet.com/espacenet/bnsviewer?
CY=ep&LG=en&DB=EPD&PN=WO9840960&ID=WO+++9840960A1+I+

"The electromagnetic device of the present invention exploits a
practically unlimited source of energy and it is thus vey
cheap.....The pulses applied to the windings 110 and 115 perturb the
magnetic field generated by the magnet 105 and produce a total
magnetic field having an amplitude which is extremely higher than the
amplitude of the magnetic field generated by the magnet 105.
Experimental tests have shown that the resulting magnetic field has
an amplitude far higher (e.g. several thousand times) than the field
produced by the magnet 105 and that the energy generated by the
electromagnetic device 100 is extremely higher than the energy
absorbed by the unit 120 for generating the pulse sequences."

Ken