It has been recommended to me on numerous occasions by various people. It recommended to use to help better form the breasts. There are many threads on here in regards to it, and Lotus has really good information on it as well.
As a matter of fact Lotus actually commented on it very recently:
Hormones: Urban Legends
As for application, I've seen and read varying recommendations. I went off of one recommendation and I apply 3 times a week, MWF, in the evening. Hope that helps.