This definitely sounds interesting, but there's nothing really tangible presented here. The video seems to explain the concept, but there's no definition of the software itself (at least, until the summer of 2012). Would love to know more if anybody knows about this...
This is a problem that needs solving, but the presentation needs more than words. We can all of think of what we would include in a product like this, but they would just be promises until its release. There's nothing to show what the interface, integration, or published content is like.
Also, should you be targeting small circulation publications instead of journalists? I don't think journalists have the power to make decisions regarding publishing tools.