As a person who holds a degree in Music Theory, I find this interesting and frustrating at the same time. Interesting in that the pitch relationships of individual notes seems a lot clearer, but frustrating because the visualization is so limited. I don't think that the frustrating aspects of it are indicative of a failure on the part of the author, but because even our somewhat confusing and complex system of notation ultimately conveys so much more information about the relationships of the fundamental harmonic building blocks that form the basis of pieces like this. In this visualization, that information is almost nonexistent.
My first thought is to ask a question of those who aren't fluent in the language of written music: does this help you "understand" the music better? As a performer (I teach piano as one of my many occupations), I'm constantly trying to simplify my ability to quickly read and understand the music I'm playing, and that inevitably involves seeing chords, not notes.
So: do you think this helps you? Why?