Here is a link to a good article about it.
The article summarizes by saying "If you're in the market for a product to help you feel full so that you eat less and lose weight, skip the Lipozene and eat more fiber. You can get plenty of fiber from natural sources like fruits, veggies, and legumes. When you get nutrients from real food, you have the security of knowing what you're eating. And even though people often complain about the high cost of fresh produce, it's a lot cheaper than Lipozene."
It's probably safe if you don't take too much, but it won't work a whole lot even if it works a little. Basically you're taking pills containing an insoluble fiber that might make you feel too full to eat. Of course, this will only help if you eat too much, but on the other hand, you do have to eat so you might just end up feeling bloated and gassy. Too much fiber can do this. If you don't overindulge, probably not a lot of other side effects. Other fibers exist you you can buy a lot less expensively than buying this direct marketed product. But for long-term use, this kind of fiber is usually used for things like cholesterol control, and you can do better with much cheaper bulk oat bran. Now, saying skip the Lipozene and eat more fiber isn't exactly accurate, as glucomannan, the fiber in this product, comes from a plant and is real food as much as any other fiber, given that fiber in itself usually has no nutritional value other than to help you either go to the bathroom or cut cholesterol, depending on the type of fiber. It does have it's uses and it is "food." But it probably won't help much with weight loss unless you combine it with increased exercise, dietary changes in the nutritious foods you consume, etc, and if you do that, you don't need this really. Best of luck.