It appears that a basic search on UpSpiral returns a page that includes
1) a keyword placement from AskJeeves, if it exists for that keyword
2) the top ten Google AdWords for search
3) a next link that when clicked will get you another AskJeeves Keyword, followed by 5 more Google AdWords, with finally organic search results from Teoma.
Clearly this schema violates AdSense's TOC, but large publishers get to play by different rules. I'm just wondering where a site like UpSpiral gets all of its traffic and what kind of quality one can expect from someone searching just through paid results.
My guess is that it's low quality traffic from somone who got their search page force-switched by spyware. They have a pop-under on their homepage, so it doesn't really seem like they are a reputable firm. Hopefully their overall share will stay small, I don't see any value from using them over Google itself.
Interestingly, their homepage doesn't show up on Google search. My guess is they are new.
EDIT: What sorts of terms are you getting UpSpiral traffic from? The more lucrative the term, the more likely it is junk traffic.