It's about as much of a theory as shiatsu and chiropractic are real medicine with real effects.
(And by the way, chiropractic is NOT what you probably think it is. Much of what they do is a form of massage which has proven effects to do which they rarely have the actual license for... But the core philosophy behind it, and most manipulations are such complete bullshit. Basically, they believe that every illness is coming from inside of you and you can potentially heal anything by cracking and twisting someone's bones and stuff. Yeah. The latter can be pretty damn dangerous, often done by people with no medical license, and there's a history of people dying from some of the more extreme things like the neck cracking/twisting they do.)
That is, total bullshit only the most ignorant and idiotic people would believe in. It's there with "lightning is an arrow of god" on scale of stupidity. Although, good bluff roll to get out of sentence...