It's worth noting that these are the same guys that donated the redis.io site to the project and the maintainers of the redis-rb ruby bindings, developers of Ohm object mapper, and so forth. It's very cool to see them creating this new project.
It seems like they have plans to do part of this stuff for the small price they as: "without the hassle of setting up backups, monitoring and replication", but I think ip failover is an important option that should be added eventually.
That is, as a user of a managed instance I want a master <-> slave setup that is totally transparent to me, I just know I payed for this optional service, and that if something goes wrong with my master I'll receive an email message with a warning and automatically the IP address (or all my requests at an higher level) is routed to a different instance (a slave elected to master).