Looks like some studies are on the way to prove CO2 is safe and working. The Northwestern University started a study which is supposed to be finished by Sept 2010 on carbon dioxide injections.

The purpose is: The primary objective of this study is to demonstrate the efficacy and safety of the carbon dioxide for subcutaneous fat reduction.

We are anxiously waiting for the resultas in Oct 2010 to have something fresh and seriously made.

More here