It does fold forward, and when I've occasionally ridden with it like for super steep sections when I couldn't get the seat low enough, but my seat is a little wide so it rubs on my thighs in that position and annoys me. The folding forward position was actually only meant to be used for storage, I've found it nice when throwing it in the back of a friends SUV to make the bike shorter.

They were made by PowerPost. It's been over 5 years since they were made, nice design but the wrong time. There are other companies looking at similar designs now, with the freeride crowd growing we're finally starting to have more people who want a seat there for pedaling and out of the way for stunts. Picture the scene 5 years ago though, everyone was into XC and was a weight weenie, nobody would consider putting a one pound seatpost on their bike. Good idea, bad time.