GRYPHONENT GhostSphere is unfortunately in the same mold as Apimacs Secret Folder. Dont be fooled in believing that GhostSphere uses an advanced way to hide folders and employs a 448 bit military strong encryption in doing so. GhostSphere might achieve the latter when creating a disk image, but so are better freeware apps out there (Secret Service, Hide Safe), and in demo mode the vault feature is deactivated.
Lets look at the standard feature of hiding folders instead: generally all GhostSphere does is putting a . in front of the folder, thereby making it invisible. The folder is not moved and still there... which means, that by making invisible items visible it will be revealed. Even in invisible mode Spotlight was right on the spot in finding files within the hidden folder. So much for the Spotlight safe guarantee (probably only true when the folders are encrypted on a disk image, but this should be clearly stated by the developer).
(Version 1.2.4)