As I understand it... I am by no means an expert, of course... the reaction proceeds in a number of steps:
1) Powdered Nickel is hydrided under pressure, forming a thin-film Ni-H coating on very finely divided Ni powder. This powder is then heated to somewhere around the curie point, (plus or minus).
2) A soliton plasma wave is electromagnetically induced in the thin film Ni-H, and ultra-cold (low momentum) neutrons are formed from the H in the film and the e- in the plasma wave. The neutron-forming process claimed by Rossi (and before him, by Piantelli) is quantum tunneling.
Quantum tunneling? That cannot be right. Quantum tunneling is going through a potential barrier to a state with the same energy, but there is no such thing here.
And the mass difference between a proton and a neutron is about 1.3GeV. Subtracting 0.5GeV for the electron still leaves 0.8GeV of energy that has to come from somewhere. And 0.8GeV is a huge energy at such a scale (typical energies in a solid are on the order of a few eV, almost a billion times less). Without an explanation where this huge energy comes from this is just pseudo-physics.
3) The neutrons are absorbed by the Ni (in their ultra-cold state, the capture cross section is very large and the mean free path very short) generating higher-mass nuclides of Ni, which decay via k-capture or inverse-beta decay through Co to Cu and (possibly) Fe.
And this makes no sense at all. K-capture or beta-plus decay happen when there are too many protons. If Ni captures neutrons it should decay by normal beta minus decay in the other direction (Cu, Ga, Ge...).
4) The energy released is from the de-exitation of the reaction products (the heavier nuclides) and from e-/e+ annihilation events.
This should work, provided there is enough shielding (but in the shown images one does not see much shielding...)
I am skeptical that one can induce these LENR with electromagnetic fields, but I admit that such an effect might exist. But if someone wants me to believe that he can get energy out of this, he should be able to show me the exothermic nuclear reaction that is supposed to happen, even if he wants to keep the process how to make it happen secret. And Ni is one of the most tightly bound elements, so one would expect that almost all nuclear reactions starting from Ni are endothermic.
I have to say, this whole thing is extremely fishy.