It's still basically nothing more than an over-priced scam, any way you look at it. The potassium may be marginally helpful if you've just exercised, but other than that? A moderately unpleasant tasting liquid, usually sweetened to make it taste less terrible, I don't see the point.
Of more interest from a diabetic's perceptive is the meat and the oil. I've seen some hard to quantify claims about coconut oil having a positive impact on blood sugar. While coconut meat is a yummy fibrous food you can eat a little of, without heavily hitting your numbers. So long as you don't go overboard, of course.