This is very, very handy for development purposes - those of us building firmware and drivers for USB devices are very familiar with the need to reset (unplug/replug) devices during development, and being able to do this with I2C and automatable software procedures is a GODSEND .. I've already started the process of getting a couple PCB's made from this project, and have subscribed for futher updates as the devs get their revision made... this project is very valuable for us in the embedded industry, and I for one would like to see software-controllable USB ports become a very standard thing, personally.
So many issues with USB during development can be resolved if you can just get the device reset during the dev process. Being able to hard-reset a device during compile/debug phases is going to save me huge amounts of time and effort ...