I'm with Eric C-note on this one. While you theoretically can lose fat, 70% carbs will result in high blood sugar.
That said, the Coffee Bean line was funny.
Not with reduced calories, contest prep training and cardio. And not when it is in the overall context of moving from a diet higher in fat to one with little fat. Hey, do what you want but it worked for me and it wasn't theoretical. Used that diet to lean out for multiple contests over multiple years and it worked well. Now that I train much much less I do mostly low carbs. But this is many years after competing and more of a lifestyle choice to trim down after putting on too much weight just eating whatever for several years.
Ironically, at this point I tend to agree more with Eric C on the basic philosophy of lowering carbs drastically now. I don't agree with his extreme statements like stuff about avoiding the carbs in coffee. But I don't care much about size or strength now either.