dmbaer
As I understand it, a FIR (finite impulse response) filter is basically a convolution operation that stays in the time domain. Convolution usually employs FFT conversions for efficiency's sake and FIR filtering does not, but either way it's convolution. You can have a much longer set of samples involved when you go the FFT route, which is what is needed in convolution reverbs where there are sample lengths in the thousands. Another way to put this is: convolution is essentially a filtering operation in the first place.
There's a bit of snake oil on sale here it would appear.
Yes, an FIR filter does straight convolution in the time domain (or something mathematically equivalent). And an IIR (infinite impulse response) filter - like an analog EQ - can be implemented as an FIR filter just by taking the impulse response and convolving it with your signal (because in the real world the impulse response isn't infinite), though FIR filters are less efficient.
But personally I wouldn't call it "snake oil" unless they are misleading people by implying it's magically more than accurate reproduction of EQ curves (and I haven't actually seen what their marketing says). But then I also grade on a curve and sort of give a pass to companies that rely on their audience to read things into their marketing that they never actually explicitly say.