Of course it won't - it might be OK in sunny Italy but can you imagine it working in the claggy depths of the Scottish winter? Besides, it's surely the very dumbest possible way to change gear when the epicyclic geared hub has already been around for about half a century?
My goodness, that's a dam ably clever wheeze, what ever will those foreign chaps think of next. Can't see it surpassing the genius of Messrs Sturmey and Archer though, by Jove.