Oxygen as a cleaning agent in water

Just saw a commercial for something called “Oxiclean.” It purports to use oxygen as a cleaning agent, making your clothes brighter, cleaner, yadda yadda yadda. I’ve also seen a similar product advertised on TV called (I think) Oxygen8.

The guy touting the Oxiclean was just raving about how wonderful this stuff is. He raved on just enough to make me think it’s a load of hooey. However, I’m no expert (I’ve yet to master the intricacies of adding ordinary bleach to my laundry). Is there anything to this, or is it really the hooey I think it is?

The oxygen in this cleaning agent is most likely ozone, or O[sub]3[/sub]. It is a strong oxidizing agent, like bleach is.

This explains how the two common forms of bleach work:
http://www.prowearapparel.com/oxygenbleach.html

Basically, “oxygen bleach” which comes in powder form turns into hydrogen peroxide when combined with water. I imagine the stuff they sell in the informercials is the same as “Clorox 2” that you can get at the grocery store.