I hate to think what happens when this thing jams Although, it's a neat idea. I've seen videos of it previously. What's cool is that the whole thing takes up an area of 7 meters in diameter to park nearly 150 bikes. Bike parking and retrieval is under 30 seconds.

It's called EcoCycle. This is the company that builds it, navigate under Construction Solutions->Marvelous Solutions->Car and Bicycle Parking:

http://www.giken.com/int/st/index.html