You are correct - there are 2 version of X-Rite Colour Checker - one for images and the other for video.
You will need to contact X-Rite to see if this is compatible with Movie Edit Pro - their web site suggests it is for Final Cut Pro only - there are no details on other programs apart from FCP and Da Vinci.
One issue I can see is that you will need to manually set the cameras White Balance / Colour Balance, Exposure control settings and optionally Contrast / Histogram control .
If your cameras does not allow this then the Colour Checker is not going to work.
As far as I can see this is just a portable colour/greyscale chart that gives a reference for colour grading plugins in your editor to use as a reference. It could work fine with MEP and even better with VPX where you have a vectorscope and RGB parade to verify colour balance. Sampling one of the white or grey squares with the White Balance pipette in MEP>Effects>Colour will give a pretty accurate white balance. Or you could isolate the chart using MEP>Effects>Size/Position>Section, similar to what they do in the video you posted, and then hit the Autocolour in MEP>Effects>Colour.
Of couse this would only work if you recorded the chart at the start of every shot or scene, which would be a bit laborious for most of us, and if you were going to do that then you might as well just do a manual White balance in the camera in every scene setup.
The Passport's attractiveness is mainly in its' portable "Passport" size. The graded tinted grey squares would also be useful for judging a subtle relative tint shift while you are grading, also.