It doesn't work.
http://www.youtube.com/watch?v=WvPY5BH38B8
Lists a million chords that simply are not there, it can't even detect that the main verse is just one chord. It's a good concept, but seriously needs work.
Edit: can anyone recommend a good, free chord dictionary for Android?
It's not perfect, but it's close enough that a halfway decent musician can correct its mistakes. I've used Chordify plenty of times to help me learn songs on the ukulele. It takes less time than guessing the chords by ear.
Wow. I'm learning to play by ear right now and this is a godsend.
This is pretty amazing. Does anyone know how this works?