Kinda interesting, methinks.
http://www.bikebiz.com/news/32057/Could-this-be-the-end-of-derailleurs

I'll have one in titanium please,

Applicable to any energy transfer situation, from a car to a fridge? (paraphrasing in english)
If they were a bit more specific in their targets, or at least seemingly more realistic, I might be more inclined to believe them but a new CVT that will make all gearboxes (and clutches) obsolete seems a tall order.
That said, agreed that it could be kind of interesting to follow in the same way it has been interesting to see how the Nu-Vinci CVT hub has been interesting to follow.

could ride a bike up a vertical wall without losing their breath—if you could get the tires to stick well enough."

And the laws of physics didn't exist.

But still, seems like an interesting idea.

Daf Vairiomatic springs to mind and we know how bad they were!

We are all cyclists and most of us use our bikes to commute to work so we've all had chain and derailleur problems over the years. We want to see something new in cycling as much as anyone. ??

And with this might we be faced with a massively complex problem that means we can't get ourselves home by taking a bit off and shortening the chain?

a step in the right direction, although whether better to house it in the BB or further up the frame is a detail to be argued over. Short term the challenges are likely to be weight and transfer efficiency. Current deurallier systems are pretty efficient (more so than gearbox / hubgeared systems) and lighter too.

If they can at least close the weight gap then we could have a game changer, wait to see how the real world product pans out though