Oh so that's what it is. I think Namecheap must be using it too because I see this darn message every time I load their site "We're testing if you're human or robot" and it wastes like 10 seconds of my time.
People think that "loading gears" animation on Google blog is annoying, think if it showed up every time for 10 seconds on a company's homepage.
It is the only reason I've considered leaving Namecheap so many times (but haven't because except for this they are better at everything else)