Works very well. Wire gauge 20-22. Yes, you can use it in high voltage control system. It is best used at low voltage. The holding power on the clamps was better than I expected. The crocodile clips often come loose. They are less likely to just fall off. The downside is that not all terminals are magnetic, some are aluminum or stainless steel. It will not stick to one or the other as they are non-magnetic. As an HVAC specialist for over 35 years, I have found that about 75% of the equipment I work on is magnetic terminals. Some of the cheaper ones use poor quality materials. In general - they are - work well under most conditions, handle high control voltages, but by no means run current through them as they are 20-22 gauge. wire melts.
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