Looks like an interesting way to enforce the pattern of testable, reusable components for developers that tend to end up with spaghetti code. However, I think it's a little dubious to say that designers without coding experience will suddenly become empowered to contribute to the code base (or write their own applications) in any meaningful way.
Looking at one of the sample pictures on the Kick Starter page I see AnchorY out connected to SpringY anchor and Touch start connected to DragX open. I literally have no idea what this is doing. I probably would have connected Touch start to DragX in, though apparently that would be wrong. So as a non-coder I need to understand what every component does (which probably is not explained in layman's terms), what inputs are, what outputs are, what the specific component inputs and outputs are, and what those actually do (again in layman's terms please!).
More importantly, I need to be able to think like a coder and know how to break large problems down into small components and be able to figure out how to then wire those together to get the desired outcome. And as soon as I hit a bug or it doesn't do what I want, I'm guessing I'm just out of luck because everything is a black box to me.
I remember some usability studies that we did at Microsoft that was testing a simplified flow control UI to do basic programming. We brought in people that claimed to have at least scripting experience if not coding experience. We should them a constrained UI that had some operations (ping a server, start a server, stop a server) and basic flow control (if, for, etc). We asked them to reboot a server as a warm up question - since no 'reboot' operation was provided they just need to combine a stop server with a start server. We lost 75% of the participants at that step. It was pretty eye opening to see first hand that not everyone can think like a developer, it has nothing to do with providing a nicer UI or pretty visuals. Problem decomposition and recomposition are learned skills.
I really like the approach and think it can be very effective at improving the overall experience for developers. But to say this is somehow suddenly going to allow somebody with no coding or developer experience to "skip the tens of thousands of hours becoming fluent in syntax and start visually hacking on your application now" just reeks of marketing bs.