That is kind of interesting, I don't get how it stays connected to the vehicle though. It looks like it clamps to the sidewalls of the tires but that seems a little chinsy, but in the video I could also see some little posts or something that went up to the center of the wheel, as well as some chains that go back to the frame.
The only problem I can see for sure is the ski things. I've seen guys on regular snowmobiles going nice and fast only to have their ski get hung up on a tree branch below the surface of the snow. I even know a guy who bent a ski outwards when he ran into a steel gate on a forest road that was barely covered by snow.
Mattracks are getting popular in my area, lots of guys are getting them for their ATVs but I haven't seen a truck with them yet. Me though, I'd take an Argo 8x8 with extra wide tracks any day. And then monkeys will fly out of my butt.