Actually the stuff does work, to a point. Problem is for how long will it work. Another problem is that it only really works on seals and not gaskets.
The majority of stop seal products work in this way. After time seals become brittle and can shrink in size. Most stop leak products contain a swelling agent that will rejuvenate the seal in a attempt to preserve and extend the life of the seal.
If the seal is actually damaged though it doesn't do much since it does is swells the seal. If it has a hole in it or even the smallest tear it probably won't do much. The best thing to do is to just replace the leaking seals.
You didn't mention what was leaking. Main crank seal, valve cover gaskets, oil pan? If it's just something with a gasket you might try to snug up the bolts.