Interesting idea, I guess you need to look at in a way which isn't supposed to replace passwords and more of another layer of protection. I mean what If I break my hand or get a new keyboard, you'll need a password to override when your typing adjusts. I think this makes sense for the use cases they mention (eLearning, Financial Services) and can see how this could easily be added, but this obviously would be no benefit to some applications which don't require you typing a body of text (they never claimed it would ;))

I had a play around with the demo and does look interesting, they already have some agencies on board so might see this trialled in a few different products.

Nice hunt, and cool to read about.