The Fallet made by Repetto is described as follow:
REPETTO- FALLET Dissipatore per la realizzazione di longes doppie regolabili speleo. Offre maggiore sicurezza in caso di caduta a fattore 2 o più. Utilizza corde diam. 9.7-10-10.5. Ulteriori spiegazioni alla voce “longes speleo” art. 11175.
"Shock absorber for caving cowstail. It adds more safety in fall with ff of 2 or higher. To be used with ropes in diameter of 9.7-10-10.5 mm. More details under "Caving Cowstail" at art. 11175". The link is:
http://www.repettosport.it/catalogo%20generale/Staffe%20corde%20fettucce/Pagina%2018.pdf.
REPETTO- LONGE REGOLABILE Kit composto da: m. 1.70 di corda Beal UIAA/CE diam. 9.7 art. 09022; 1 dissipatore “FALLET” art. 01320; 2 moschettoni Kong UIAA/CE art. 03062; 2 Fast art. 03023. Risultato: longe più sicura in caso di cadute a fattore maggiore di 1, possibilità di regolazione, ingombro del dissipatore inferiore a quello di un nodo.
Translation: "Kit made of: 1.70m of UIAA/CE Beal rope diam. 9.7 mm art. 09022; 1 shock absorber "FALLET" art. 01320; 2 carabiners KONG UIAA/CE art. 03062; 2 Fast art. 03023. The cowstail is safer in a fall with ff >1; is adjustable; the shock abosrber is less bulkier than any knot"
My cent: I remember to have seen some cavers using it, but I don't remember of any talk about it and its use. I know is kinda popular in some areas (grottos?), where cavers like to have an adjustable cowstail or a double one made out of the same lenght of rope.
I personally prefer to have two separate cowstails, a short and a long one, so I never questioned about such gears and their use.
Dasvidanjia Jozef