It is suppose to add air to the olive oil, probably making it less sticky and thick as it goes into your body.
I did in the past as you have wondered and used a blender, my olive oil had tons of bubbles in it,(but still seemed thick) I added a little pink grapefruit to it and that worked even better.(the bubbles stayed longer) I didn't get sick or die from it. I can't afford an ozonator machine, they are very expensive. I am sure it does a much better job but some of us have to come up with our own ways to get by....heyjude