The bit about camel-llama hybrids being camel-sized and llama-woolly seems to be completely wrong (they've confused the general goal of the project with reality), so I'm a bit dubious about the rest of the article. According to Wikipedia [1] and google image search, camas are smaller than both llamas and camels, and not very woolly.
I do find it fascinating that camels and llamas, whose last common ancestor was roughly as long ago as that of chimpanzees and us, can produce viable offspring.