Up here in British Columbia I have used the �poor mans� rig as shown, and modified, several times and can attest to the fact that it works on trout.
Modifications include filling the clear float with water to sink it a foot or two or more, depending on the volume of water you fill into the float. Other modifications are to change the bare hook for a wedding band and/or drop a tiny amount of Alka-Seltzer in thesoda straw for more air bubbles. You also can bait the hook with dew-worms and shrimp.
The way it works is that the sound combined with the erratic movement mimics a fish in distress and provokes predatory fish to attack it.