This is very well explained, but not all that novel. Brian Eno used to generate long soundscapes like this, using loops of mutually prime lengths of time.
Edit: See also -
Edit: See also -
Both produce music according to a simple algorithm, but the algorithms are different.
The bells are hung in such a way that they naturally want to swing with equal periods, so you don't have to disturb one too much to make it ring one place earlier or later in the cycle. (A bell is never moved by more than two places.)
I don't see any reason why a peal of bells couldn't be set up to produce the effect jws described, but it wouldn't be at all the same thing as change ringing.
http://www.cs.sunysb.edu/~vordonezroma/texturesynth.pdf
(There are some mind blowing generated images in the linked PDF.)