It might look better, but with added dimension in the interface, you probably need one or two more buttons on your mouse to navigate efficiently. It's a real problem with interface design, with more functionality, you need more controls.
The idea is quite novel. Stereo-mapping 3D space onto a 2D has some inherent problems to overcome. From what I see in the video, the user has a 360 degrees environment to navigate. The problem is his angle of view is pretty limited. An analogy is to flying a plane with only a forward window. So unless there's a constant indicator on screen to point to your out-of-sight windows, it's pretty troublesome having to navigate around to look for it.
And this present another problem. Considering that you can have windows at different depth from the viewing plane, as well as at different locations of the sphere, once you have many windows open, your screen will soon get cluttered with indicators where your windows are.
Just my analysis from an useability point of view.