That strategy is for every Republican in a solidly blue state to switch to the Green Party.
If the Green Party gets a sufficient percentage of the national vote then they can become a real third party. The ultraliberals will then feel more comfortable about joining them. This will bleed people away from the Democrats allowing Republicans to win a plurality of votes in many elections.
This will require conservatives to vote for people whom they violently disagree with and who in some cases will be reprehensible human beings.
The ultralibs believe that Obama is a pawn of Big Business. They hate him almost as much as we do. We need to tap into this by supporting the Green Party.
But we won't because good Christians will be repulsed at the thought of voting for gay atheists, 2nd Amendment supporters will lose their lunches at the thought of voting for a gun-grabber, Pro-Lifers will deem it immoral to support a pro-abort, etc.
Voting for a Republican in California or New York or Deleware is truly a wasted voted. Voting Green, although problematic, at least has the advantage of being strategically advantageous.
The Democrats like to play this game by running fake independents against Republicans that they fear. What's sauce for the goose is sauce for the gander. There isn't a problem with it if you carefully think out your position and come to the conclusion that it will do no harm, such as when there is no Republican opposing.
Another thing that you can do would be to find polling numbers on the Dems and Republicans for the different positions. If the Dems are way out in front and there is no likelihood that the Republican can win, then vote Green Party if there is one.