Or did they? Here's my impression based on the article and a few minutes of refreshers:
Problem: Given a (weighted?) graph, output its Laplacian matrix, which represents (in the sense of being polynominal-time reducible to?) how much current would flow between any two nodes if voltage were applied across it.
New algorithm:
1) Find a (minimal?) spanning tree for the graph.
2) Calculate how much current would flow through that graph if it were so weighted and a unit voltage were applied through it, with the edges being resistors (and leaves presumably connected to ground?).
3) Create a loop restoring one of the edges in the original graph.
4) Update the currents your previously calculated by the amount needed to balance the circuit.
5) Repeat from Step 2) until you have the original graph.
6) The currents are your solution?
(Sorry, lots of edits to correct and clarify.)