I tried it this summer. I am not sure of the results, though, as I was experimenting with a few different organic things. It won't harm your lawn.

From what I understand after having spoken to some people about it, the product is a bit questionable because...
1) The most valuable part of real worm poop is the microbes. Unfortunately, those microbes have a really short shelf life...meaning that they won't be alive when you get around to spraying it.
2) The worm poop itself is not the nitrogen source. Something is added to it. As far as I can remember, Terracycle doesn't tell you what that is.

I would be interested to see what others think.

$20 is a good price for CGM...depending on the size of the bag. Where do you live? I bet we can help you locate cheap grains by you. Have you looked into Scotts Organic Lawn Food?

Try starting a worm bin. Check out the vermicomposting forum on this website for details in starting an inexpensive one with a rubbermaid tote. It's easy, cheap, and making a tea out of fresh worm poop is a much better alternative than any store product.

Thanks for the follow ups.
I'm still wondering, do you think the worm poop (terracycle) helps the soil, or only feeds the plant just as chemical fertilizers do?

I live in the Atlanta area, and the only feed store I could find with CGM is in Atlanta and I thought the price was high compared to what others on the forum were paying. I have about 10,000 square feet of lawn and trees and shrubs.

My understanding of poo is the different stages of the recycling process. "Nutrient Cycling", might be the correct term. Horses only have one stomach and much of its dung still has distinguishable fibers of plant material.
Lots of microbrial activity is still needed, before it is feeding plants.

In cows it is broken down further than horses, and may even have 'plant food' ready to go somewhere in the mix. But still lots of digestion to go.

The progression continues downward to worms. It seems that they (and the microbes in their gut) can digest the OM to the point of being just about ready for a root to start chowing down. I believe many roots can follow a worm trail - feeding all the way.
But I could be wrong. It is hard to get beyond the 'sales pitch' on some things.

So what does this mean for spraying on top of the soil or even mixing in? I don't know. Perhaps it functions as a humate and there should certainly be some nutrient value to it.

Worms definately help the soil , in comparison to chemical salts which typically are hostile to microbes and OM. IMHO

The biology in a product like Terracycle is a question. Real activated compost tea cannot be bottled because it needs oxygen to stay aerobic (obviously ) but if it goes anaerobic bad things start to happen so that isn't compatible with cross country distribution.

What can be bottled is compost tea extract which removes the microbes and
lets them go into dormancy. They are then packaged with some sort of organic soup depending on the product which purport to feed the microbes
after application and reawakening. If you don't feel like brewing your own tea is an option then these kinds of products can have some value but do your research about what kind of biological life they claim to contain. If they don't tell you specifically then assume its not too good. If you can properly brew your own tea, and it aint hard, then that will ALWAYS be superior but that doesn't mean these products are worthless.

There is a company called ICT Organics which is producing an extract thats getting a lot of attention. Their product probably isn't scaled for your average homeowner but their website will give you a good sense of what a good product looks like.