As I have not used any such code formatting template but at first look, it seems interesting to me. However this concept does not seem to catch up lately in general text editor context as this video is pretty old.
I would like to see such templates in more editors such as sublime text2 etc. so that we devs can go ahead and customize as per our visual need. Thanks for the share.
This is a longer more complete recording but is taken with a camcorder: