If you were going to use a window ac, you would be bound to put the fermentor by the window, (which I don't have many of), but if you just had it in the house it generates A LOT of heat, and consumes way more energy than a mini fridge.
That is pretty much correct about the modern fridges and is the basic principle behind how the new one will operate.
Here's a snipit of what I remember from my days in thermodynamics. When the gas is compressed, it causes it to lose energy (heat). The gas being brought the the expansion chamber into the interior cooling coils becomes endothermic (heat absorbing), as it has more volume to expand to, drawing the heat from the surrounding environment. After it absorbs the heat, since it is a closed system, it tries to expand, and is pulled by the compressor through the cooling coils (the copper tubes along the skin, to dissipate some heat with the surrounding environment. And is then brought back into the compressor to start the cycle again.
The older one worked a bit different, and the best resource I found was wikipedia.
http://en.wikipedia.org/wiki/Absorption_refrigerator#Single_pressure_absorption_refrigeration
IMO the new mini fridge being energy star compliant, is the best option for my situation. I like it because it gives off less heat and is a bit quieter.