Sweetwater just sent me this advertisement...

It will alter the sound of your mic, but it's not going to fool anybody. It's impossible to put back something that wasn't there in the first place.

In other words, don't waste your cash.
 
The original version ten years ago basically seemed like an EQ preset thing. The fundamental issues are the same: you can't capture what doesn't exist and you can't deconvolve accurately the compression and amplitude based frequency response variations of the capture mic so it's impossible to get a "flat" input on which to "paint" the simulated mics. At best you get a vague approximation.