1) It's too difficult to remember all the tricks to make it useful, and the cost of memorizing tricks that I saw in the first screencast isn't worth the efficiency it provides.
2) It's too difficult for new users to remember the tricks that are supposedly "better." It's a lot like Python vs. Perl -- Perl is a really smart and clever language, but you can type just a few characters more to write Python and it'll be a lot clearer as to what's going on.
The one exception to all of this is the MySQL stuff I saw. The MySQL prompt has sucked for a long, long time, and building SQL queries is something you do iteratively anyway.
All of the above said, I still think this is pretty neat. But I won't use it.