It is interesting, but it has one problem that most guitar methods have, which is the focus on patterns and shapes over pitches. Now, of course, this is common because it is easier than learning thing on the basis of pitch, but it also tends to lead to guitar players thinking geometrically (in shapes) instead of linearly (in melodies). This, in turn, tends to lead to a stringing together of licks instead of improvising melodies.
I am NOT saying it is a bad idea, nor even that it is not a legitimate way of learning (I have always been more of a pattern guy myself), but I am simply pointing out the weaknesses of learning the fingerboard in patterns like this. Learning patterns is, of course, much faster, but I have always liked the idea of thinking in terms of pitch rather than shape.
This also kind of falls apart when you start dealing with melodic and harmonic minors, or at least you need to learn a new system.
Again, I am NOT saying it not a cleaver idea, I just wanted to point out some of its weaknesses.
Light
"Cowards can never be moral."
M.K. Gandhi