They've made another video which demonstrates the system in more detail:
I think realistically, even though they only do it in the video for demonstration purposes, removing the frames for extraction makes more sense than having exposed honey behind the hive.
Their funding page went live about 30 minutes ago and they've already made $145,886 - their target for the campaign was $70,000.
So it looks like not everyone's as skeptical as commenters on this thread :)
Thanks for replying to my post. I'm still interested, I have a hive all sorted. One issue though is that my hive takes deep National frames (14”x12”) - can you supply on this size? I don't have a Nuc box (yet) - any recommendations?