This isn't something you couldn't do before with Sound Forge, EQ and a little knowledge and creativity. I've been abusing audio software like this since I started 17 years ago.
It's actually even easier now with iZotope RX, FFT and Spectral DSP. Not to mention the capabilities of Celemony.
And for someone that likes the "Homeliness" of Acid, his software sure does have a lot of unnecessary frills that look a bit like Rock Band. Besides that, the results didn't sound any better than what I could do with the rudimentary and current tools I mentioned in my opening statement. Actually, his personal remix sounded a bit muted and worse than the original source, I'm sure video/mp3 compression has something to do with that and I can't properly judge it based on that, but the example of the original was moderately clear and his "beeps" were a bit muted, so that certainly has to account for something.
Maybe I should remix the BBC theme and they'll write an article on me because it's just shy of shameless self promotion.
All I have to say is that I hope it lives up to it's claim. If it does and he markets it as a novelty (which it sort of seems he is), then that means it'll be a big push for the pro side of the industry to keep innovating.