Aha.
If passive email is what your product is for then you need to:
1. make the bottom bar slightly bigger
2. allow me to be able to add a picture of the lead magnet im offering
3. the bar should slide up after after 1-2 seconds
This will result in a 3x bump in conversion(if i remember correctly), when compared to the side bar opt in form on most blogs, so if you were getting 50 subscribers a day, this will increase it to about 200.
You are essentially a saas version of http://instantslideup.com/ and your target audience is BLOGGERS.