This looks cool. I like the drainage idea, sort of an upside down coffee plunger.
I like the re circulation pipe too. I was thinking along the same lines for when I get myself a pump and begin recirculating the mash. I won't be using a stainless bag or a 'malt pipe' pot with cuts int he bottom though, i'll just use my craft brewer bag, suspended over the element with bulldog clips.
I didn't see anywhere on their website about it, but it would be a cool feature if you could plug this into your fridge for stepped fermentation as wort production is only part of the battle when getting repeatability. It would only be a update to the software i would assume, a relatively easy thing for the developer to add.