I can honestly say that I did not have my identity stolen while I was using this product.  At least not as far as I know.
The product, when filled with a passport and one card in each slot, was thinker and bulkier than I had expected.  The nylon exterior is highly reminiscent of a back-pocket wallet circa 1986.
When going through customs, airline check-ins, etc. you normally have to remove your passport from its cover.  Travelon could have made it a bit easier to do this.  One side of the passport is tucked in to a (plastic) flap that's only about an inch wide but the other side is completely covered by the credit-card holder section and the fit is rather tight.  Travelon could have doubtless made this experience better by making the product slightly larger or by lining the interior pockets - granted this would have added slightly to the bulk of the product.
The manufacturing seems very solid and I don't believe that it will fall apart anytime soon.  As such, I would recommend this product to anyone that thinks they will be particularly hard on their passport case.
I purchased the MobileEdge product for my fiance at the same time I purchased this and I believe the MobileEdge product is cosmetically much nicer.  She also did not have her identity stolen as far as she knows.