This is cute, but it kind of falls under the "Let's do this thing we've done, but with new social media technology!" category rather than something genuinely useful.
Not being attacked by a shark is a real-time scenario... A shark that is 0.75 miles away could easily be 0.5 miles away by the time you've checked your phone, got off your towel, and tip-toed into the water.
I'm not dismissing the program by making it keep promises that it hasn't made...it just highlights how technology needs to be a strategy...to have these signals out in a public API is very cool, but for it to serve its ostensible safety purpose, the beaches need to be equipped with a public-announcement system that keys off of that data (whether it be a Twitter feed or whatever the scientists were using before).