I have heard of it, never have taken it. We have (up to this year) been required ACLS in L/D. This has just changed and I heard we will be at some point required to take ALSO. I understand (correct me if I am wrong), ALSO is directed more at physicians than nurses. But, I have heard good things about it, just can't speak from personal experience.
Here is a site discussing course content and dates/places:
http://www.aafp.org/x837.xml
If anyone here has taken this course, I would love your input!