I don't understand the benefit of turning the whole wheel into a triangular track; would it not be sufficient to make only the bottom third flat?
It doesn't look like their whole wheel rotates though.
We add grams to balance wheels to prevent damage to suspensions etc, this thing seems just a dream for vehicle applications.
A better design would have been to flatten the wheel into an more oblong or even an egg shape, like snowmobiles or tanks have. However, it requires more mechanical displacement and adjustements.
We would also need to deal with the fact that just flattening one side of the wheel would make for a shorter perimeter than that of the circle; the tread is a loop of a constant length, and it needs to be kept fairly taut to function in both wheel and tread mode.
Agree with the perimeter consideration.