I've been eagerly waiting to see what comes out of this group for a while now. The principles seem great, but I think they should apply their 12 principles to the initiation phases, as well. It's currently hard to discern from their site what their short term goals are or even where they currently are in the process.
Seems like an enormously positive effort, but I'm remaining skeptical. I wish that they had more public dialogue of what they're doing and more demonstration of getting the general public involved early. Plus, I think their approach may be too grandiose and top down.
I would like to see it first applied effectively at the grassroots. For instance, can the model successfully be applied to a small collective? If that's possible, then try to scale it to city, state, nation, and globe. Also, do they really need funding first to start rolling forward toward some of their objectives? There seems to be a lot of passion in this space and a lot of smart people willing to work for free now, with the right leadership.