Not believable to me... but then none of them are. This guy wouldn't have been allowed to wait until after seeing the controller to sign the NDA, and the various reasonings and excuses for lack of evidence or details are too convenient. Like a PDF (with no pictures even) is really hard to leak... it would be hundreds of times easier to leak than an actual paper manual since it's digital.
A controller with a heating element that could get that hot, fast enough to synch with the game in realtime, penetrating the plastic, is a legitimate hazard. Not to mention a battery drain. It'd have to get wicked hot to heat that fast. (Let me guess, holes in the grips, right?) Isolation will be in order to keep the internal temperature of the electronics down.
I suppose aside from housing, isolating, and powering the heating element, the controller will also completely contain and power the AMAZINGLY TINY AIR COMPRESSOR to create the cooling. And it can even go from one extreme to the other in near-realtime!
There's your Revolution. A CFC-emitting controller that violates a dozen EPA codes! 10 hours per charge!! OMFG, TEH GAME I5 0N!!!!!!111
These kids are having REALLY boring summer vacations. They can read rumors and fill in the blanks themselves, but when it comes to imagination meeting practicality at the crossroads, they show how clueless they are.