NO!

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Moderator Post (s) for this thread: > The manufacturer states not to use on a dryer. by Handyman on 11/10/2004

This very device was discussed a while back on a professional electrician's forum, and there were many reasons cited as to why this device is very unsafe.
Read this:

http://electrical-contractor.net/ubb/Forum1/HTML/003466.html

Hire an electrician to wire a proper 240V outlet.
Andy