From what i had observed in the movie:
palpatine had knowledge of the existence of the power.
I see two possibilities:
1. palpatine lied: the power he mentioned went into detail on reviving living cells who were dying.. thus "rejuvination" (do not know if i spelled this correctly, i mean making something younger, or at least feeling that way)
if he had it, and knew it, why not use it to restore his own appearance? also, how could you teach your apprentice a skill you do not even have yourself?
2. he could only use it on others, like his master, as he clearly mentioned it, however, why not restore padme and gain vaders eternal loyalty, and rule with everything in peace?
option 2 is actually ruled out, the fact that he kept vader alive relied pure on technology, the vader suit is pure technology, like the implants used in the other movies, vader is also a real mess in episode six, with failing life support systems in his suit, again confiming he needed technology, and not the force, to be able to live
as we come to this, why did anakin faint, and not died, as some try to believe? it would not be hard to imagine that someone would pass out from the pain coused by burning your flesh and so closing wounds that resulted from from having your limbs cut off.
still, the movie tells the story, you could endlessly debate on fictional facts,
only the author can give you the true story.
but as we all are morons, let's come to the next idea;
did palpatine use the mind trick on anakin when anakin found out he was the sith lord? it appeared so.
