Otherwise, blacklisting tokens as a way of revocation process seems just fine to me. Set reasonable expiration to the key, allow users to refresh keys, then when you need to revoke a key, add it to blacklist together with the expiration timestamp and expire it out of the blacklist at the same time the key itself would expire. You can do all of this by magic by using Redis for your blacklist storage and setting expiration on your blacklisted keys. Yes, you would need to check your blacklist on every request, but a) blacklist is going to be smaller than a list of every issued token (like you would with normal sessions) b) you don't even have to store the whole token, just calculate some hash and store that, now you only need to read a few bytes on every request instead of reading the whole session.
The author does make a some good points though.