This is not a rocket. It is a turbine. While we got to the moon by combining O2 and H2 to generate water (2H2 + O2 -> 2H2O)...this is a completely different process. Hydrogen peroxide is decomposing into water and oxygen (2H2O2 -> 2H2O + O2) in the presence of a catalyst and restulting gases are powering a turbine, which in turn drives the wheels. It is not a rocket at all--the kart would still move forward if the exhaust was pointed straight up.
It's the same system and theory which powers "rocket" packs, like the one Roger Moore uses in the bond film I forget. Except they're powered by the thrust, not the turbine shaft.
Gold!
