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If you read the white paper, you will understand it.

How does the delegation miner work? I tried to delegate some steem power to it and the box keeps showing red and not letting my delegate anything. Any idea why that is?

You have to minus 5 sp from your total sp. 5 sp is needed for tx and bandwidth.

That was not it as I tried multiple numbers and showed red with every one of them. Do you have to have 100% voting power as well?

Maybe? I have it.

Gotta read the fine print written with invisible ink... These kind of promises are usually pyramid schemes...

Seems awfully good to be true...

It's like trying to make milk from cream by taking the butter off... It just doesn't work...