Japanese developed it some years back. Never caught on, then some small guitar companies started using it and it started to get a little more acceptance in boutique circles.
Recently Gibson started using it, and are pitching it as the "be all, end all", latest technology in guitars, and making it seem like they are the innovators of this.
But, its been around for quite a while.
Is it better? I dunno. I haven't worked with the wood in it's raw state to evaluate it. I've seen and worked on some guitars with it, and it seems hard and stable. But I haven't built a neck out of it to be able to determine for myself.
Some hate it, but I think it's cool looking on a bolt on maple neck, and it feels nice.
As far as stability and hardness go, a properly dried, normal color, quarter sawn, eastern maple neck does just fine.
Overall I think its mktg hype.