This won't work for programs that allow for plugins, which are arguably those that need the most protection. Programs don't generally know what permissions plugins when they are compiled.
The stuff I'm thinking of that would plugin to Firefox or Photoshop probably do things that would already be allowed (read/write files, allocate memory, access network).
Either way this seems like an extremely simple way to lock down all the little command line utilities and small programs that make up a working unix system, so that if someone does get arbitrary command execution by other programs it gets much more difficult to chain exploits.