This is just my opinion, after many hours of researching this phenomenon myself: They mean well, but they're very wrong. The translators of the King James Bible themselves, specifically and without ambiguity stated in the introduction to the KJV that it's important for scholars to update the texts from time to time to allow current culture to understand what ancient writers meant. There are a lot of archaic words in the KJV that don't mean today what they meant back when it was written, for instance.
I used to work with a KJV-onlyist and I had a few debates with him over lunch about it. I gave him a verse with an archaic word in it, and asked him to explain it. As I expected, he interpreted it using the modern definition which made no sense at all. When I pointed out that I had basically tricked him, he flat out refused to even admit he was wrong.
My take on this find is that it's nice and all, but it's a rather minor 'find' in terms of how useful it will be.