For those who don't know, the story was that middle school aged kids were wearing them, and playing a game called Snap, where you'd break someone's bracelet and they'd owe you sexual favors depending on the color of the bracelet. This seems to be a media concoction though, and are similar to the pop tab thing that I remember joking about with friends (one pop-tab with the ring still on was a kiss, five would get you some tongue, etc etc).
Anyway, I decided to keep my mouth shut and let the guy think that glowstick bracelets were jellies . . . and that breaking it would get him some action . . .
Sex-Bracelets.com though is pretty funny . . .