The actual script on the site is unminified and quite easy to grasp: Since it's only a client-side solution it has to resort to polling every stylesheet every second(!) and check the file's Last-Modified header from the ajax request.
This is hardly an optimal solution, since you end up making a lot of requests even though no changes are being made. In addition to the performance standpoint, you end up cluttering any ajax monitoring views (e.g. Chrome dev tools).
LiveReload (http://livereload.com/) seems to be a good alternative (Mac only). Any suggestions for similar solutions for other OSes?
EDIT: Just tried the experimental v0.0.2 Windows release of LiveReload. Installation was really easy, and I got it working with the Firefox extension right away. More info: http://help.livereload.com/kb/roadmap/latest-development-bui...