Originally Posted by abeyance

That style is an old one, designed to shorten up the wheelbase considerably. One of the posters above got it right when he showed one of the newer Cervelos.
It was used on time trial bikes in England in the 1960's. At least that's the only time I've seen it. It basically replicates the curved seat tubes we saw on the KHS;s of a few years back, although with considerably more tubes.
I for one, like the bike, even though the pinstriping on the lugs is horribly uneven.