The foot measuring device that I saw had basically nothing in it. A friend of mine with a club foot tried it out and it, "prescribed" the same insert for both of his shoes. You can't get more wrong than that.
My guess is any that actually work use flex sensors similar to the ones found here. Really good ones might use sensors similar to those found in newer automotive seat applications to detect not just passenger presence but passenger size to control air bag deployment. Overall, for the most part many as seen in shoe stores are likely as #12 suggest and more of a sales gimmick than much else.