It's a fake registry. It's one where you could probably even register yourself as a chihuahua, if you pay for the papers. In my opinion, it isn't worth the ink and paper that the registration papers are printed on.
Have also heard its a totally waste of space! You need tweo people (random) to write and confirm that your dog is lets say a chihuahua and its registered like one! No need for anythings else! So really its hardly worth the paper its written on!