I don't think Liquid Piston was talking about a 2-stroke version before. That's news to me, and it seems like it would throw out the efficiency/emissions benefits in exchange for more power. Maybe the author of the article was confused and this isn't actually a 2-stroke design?
The main design hurdle has been longevity. Their prototypes in the past only work for a short time and wear out. That's probably just a matter of doing the necessary R&D to figure out the best alloys to make the engine out, and the best ways to lubricate everything. It's not clear from the article if this new version has this solved so it can last a normal amount of time or not.