It's a solution to a problem that doesn't exists. Why make something so simple into something so complicated? Maybe I'm wrong or maybe I just have excellent braking skills, but there really is no need for ABS on a bicycle anymore than there is a need for rain-specific tires. In order for me to accept this technology on a bicycle of my own, I would need to see several things. Firstly, it must be as light or lighter than the current upper level offerings available today. Secondly, it must be user serviceable. Thirdly, it must be proven to be completely unaffected by EM radiation that is emitted from LED headlights and other devices. But mostly, it must be demonstrated that current bicycle braking systems are inferior in comparison.

Also, having the grips double as a brake actuator seems like a bad idea to me. Unless it's some sort of GripShift-like device, but still, not a good idea.