I too find that most of the time when I need it to work it does not.
If i find my keys anyway without it I try to locate it with my phone right next to it, but it fails. I have to reboot the Chipolo by holding down/squeezing it for about 10 seconds and then it works.
But how useless is that?
If friends ask to see how they work I nearly always have to reset the Chipolo first to be sure it will demo ok.
I feel a bit like a Thermomix owner who is too embarressed to admit what a waste of money it is.
Bluetooth has never been the wireless solution it was supposed to be.
Chopolo and the other similar products are always going to stall unless they all shared a common App built into all phones.
I cant see that ever happening.