This reminds me of ACME http://en.wikipedia.org/wiki/Acme_(text_editor). To me it doesn't look like something new at all.
The cool thing about this project is it doesn't interrupt how you use your mouse. Using acme makes you learn how to use a mouse again like going from vim to emacs makes all your keybindings screw up.
Not that i'm saying copying acme is a bad thing, that editor is really underated.