I don't believe they have this function available yet thewolfe. Looking at their site they say:
Shinking Blu ray disc 50GB to 25GB, main movie previewing and 3D burning feature will come soon.
Developing Plan of Ideal Blu-ray Copy:
Version 1.0 Realize full disc copy blu ray movies to hard drive or burn to blank blu ray discs.
Version 1.1 Realize main movie copying feature.
Version 2.0 Realize shrinkage feature, allow to shrink a 50GB Blu ray movie to a 25GB blu ray disc. This function is quite complex, we need more time to analyze, can't tell the approximate time when we'll finish. But, if everything goes well, maybe at the earlier of next year.
Version 3.0 Support copying 3D bluray disc. In fact, the current version 1.11 can copy 3D blu ray, but can't burn it to a normal blank blu ray, as the size is too big.
Current version is only 1.2.