By their own website, it is a spherical rotary valve driven by chain, belt, or gears off of the crankshaft. Such a design, regardless of the details will have certain advantages and certain disadvantages to a conventional valve system. This is engineering FACT, not speculation. Now whether or not they have managed to get the advantages to outweigh the disadvantages and result in a truly superior system is unknown. My guess is that they have not but I would be very happy to be wrong.
I am not skeptical because I fear new technology, I love new stuff. But you have to understand that people have been trying to come up with better valve systems for 4 stroke motors for over a hundred years (including similar rotary systems) and ALL have failed to replace poppets in high end performance. This system may very well wind up being great for street cars or sport racing but that doesn't mean it will win at the highest levels. Everyone thought AAC was the next big thing but good old ABC just won the worlds.
Personally, if I was an engineer working on all out high tech race motor design, I think I would be working on some sort of slide valve with electro-mechanical actuation. I certainly wouldn't be wasting my time on any form of crank driven rotary valves. Even if someone gets them to work, mine has more potential on a strictly theoretical standpoint.