Not having used such a tool, I'm not going to say that it's worth using. But my reddit-crippled attention span managed to sit through the 38-minute demo and actually find it interesting because it seems to match the way I THINK about a program. Programming, for me, is about translating a mental concept into a specific programming language - this looks a lot closer to directly capturing (drawing, really) my mental concept. I pretty much taught myself to program, but this is actually similar to how programming was taught to us in certain classes - using flowcharts and logic tables. It's supposed to be about the logic, not about the language. He drives that point home towards the end of the demo, where he shows three completely different representations of a program - nested if statements, switch statements, and classes with polymorphism - collapsing into the same representation.
That being said, I've always been wary of "visual" tools that promise the sky and the moon, and I think I would go nuts if I had to use the mouse like in the demo, but it definitely looks interesting.
Which do humans use more for communication and reasoning - words or visuals? Considering that we have developed elaborate languages but done relatively little in the way of visual non-word communication, I would deduce that words and symbols are generally a superior medium. The graphs just seemed a bit cluttered towards the end I think. Interesting though.
I do still have a fondness of flow-based programming, as is used in Kamaelia, twisted flow, or graphical VHDL environments though.
That being said, I've always been wary of "visual" tools that promise the sky and the moon, and I think I would go nuts if I had to use the mouse like in the demo, but it definitely looks interesting.