At a glance, while this project is using secure (if aging) primitives, they've made some extremely unusual protocol choices that they need to publicly justify rather than simply describing in an API doc. Just at a glance, the use of modes like Infinite Garble Extension (a failed mode for Kerberos) is troubling, they made up their own KDF (with no proof), and they make what appear to be some amateur mistakes with how they use RSA.
I'm obviously biased, but if you want a mobile-oriented asynchronous messaging protocol, at this point I think the Axolotl ratchet should absolutely be its basis: https://www.whispersystems.org/blog/advanced-ratcheting/
If Telegram folks are on this thread, I'd encourage you to take a look at the TextSecure protocol. If you think it's interesting, you can federate into our network, get a provably secure asynchronous forward secrecy protocol, and also have access to an existing 10MM user base.