Here are some links to the information that I found online. It seems that there needs to be more research done but if the claims are true it seems like it would be a great product.
This is what Cochran had to say after they reviewed the research.
There is no evidence that ozone therapy can reverse or stop tooth decay. Tooth decay can be painful, is expensive to treat and can lead to the loss of teeth. It has been suggested that treatment of a decayed tooth with ozone will stop or reverse the decay process. This review of trials found no sound evidence that ozone is capable of reversing or stopping the progression of tooth decay. High quality research is needed to show whether or not it works. Ozone should not be considered an alternative to current treatment methods in dental practices.