I've thought about it, and I think I am going to participate. From their "About" page:
GiveawayScout.com - All blog giveaways, contests and sweepstakes in one place brings you the latest giveaway promotions with products ranging from coupons and samples to high value jewelry and electronics. Giveaways have become extremely popular in recent years and thousands of blogs offer them on a regular basis. Giveaway Scout scans a large number of giveaway blogs and updates every hour with the latest offers.
Since giveaway contests usually expire quite quickly, we offer an automated update service that informs you by email when a new giveaway in your chosen category is discovered.
Hopefully, this will be a good thing!!