Also note that this "process" is basically what goes on in EVERY air conditioning system. Freon (or some nicer fluid) changes from a liquid to a vapor (or vice versa) to absorb/dissipate heat in places with different temperatures. Your radiator in your car also works on a similar principle.
Not quite... In an AC or refridgeration unit there is a compression step and an expansion step. These steps are what allows heat to be pumped from one area to another. I don't mean to nitpick here, but making these sorts of comparisons can give people the wrong idea of how a heat pipe actually works.
Ryan