My reaction is one of those "I'm not sure if I should feel stupid or not" moments, but: rightly-built applications already don't expose passwords to employees in that they aren't (or at least, shouldn't be) generally persisted. Usually the plaintext passwords live in volatile memory briefly while the server computes a hash of some kind for comparing with what is stored. I suppose an admin could run a web application under some sort of memory profiler, or take a dump at exactly the right moment, and capture a plaintext password, but that seems pretty far-fetched.
CBCrypt seems to me to introduce a lot more complexity into the entire application space with very little real gain. I'm certainly open to being convinced (especially because I'm waffling on whether or not this is a dumb reaction).