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I've read some of the paper, and I think it's interesting, although not necessarily from a language theory point of view. I'd say it's worth at least a skim for someone working in business-centric application development.
There seems to be a growing movement towards the use of "rules" in enterprise computing. The most recent meeting of the NYJavaSIG dealt with another platform for defining business rules, and I remember one of my professors in graduate school doing work on modelling business processes using constraint logic. The basic idea behind business rules in general is that a non-technical user could specify how abstract business processes work in a kind of declarative language, which could be used to chain together primitive operations.
I think this presents a real step forward. By having end-users clearly specify business processes, it makes it easier to develop specifications, and by removing implicit semantics from functions, it can make code less brittle and easier to maintain. It could also make declarative and logic languages more mainstream, which might not be such a bad thing.
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IBM releases web-services flow language