It has to do with weighting the tires.
It works.
Think about it, you have a circular object; you attach a weight directly on the meridian and then balance the object, so you've got a weight at 0 degrees. Now bump the object slightly and the weight moves forward. Inertia takes over and the weight keeps moving forward and takes the tire with it.
Physics people forgive me, I did my best.
Snopes verified it too.
http://www.snopes.com/autos/business/hondacog.asp