Interesting find Scrup'. There are many untapped energy sources out there. This could easily be a scam, or the introduction of the magnet is putting energy into the system, and the wheel is acting as a flywheel. If I see a valid explanation of why it works and perhaps video of it running for an extended period of time (maybe an hour), or build my own I'll consider it valid.
I'm no expert, but I have looked at hundreds of "free energy" designs (to make sure my own energy extraction idea is unique). Most of them are reposts from a select few people who are seeking "investment" and "donations". In other words, when you see something like this hold onto your pocket book. That said, if you build one and it works, let us know