Exactly.

Too bad aluminum is too soft for this technique to provide any advantages.

...or perhaps that should actually be tested. Would this kind of processing change the mechanical properties of aluminum in any significant way?

Funny. He actually calls it Damascus Foil in the video.

You can see something like that being done here.

http://www.youtube.com/watch?v=2WkWNDDrQO4&t=5m0s