So if I understand this correctly, the device is basically a large, foot-controlled analog stick plus a rotating-the-stick-itself channel? It certainly opens up a lot of possibilities (I'm imagining a game where you can control each individual step your character in a game makes directly with your feet...), although it's not exactly new tech. An additional feature I would be interested in seeing is force sensors where the feet go - classic xbox joysticks can be "clicked down" for the typical sprint switch (and in most FPS games, the knife button). In this dedicated piece of hardware, however, I can see potential for less binary input that could give game developers a lot of neat options for providing more direct control over their characters.
One of the problems games face today is that while the capability for direct control over game avatars could definitely be put in games, precise control requires precise, detailed input - something a classic mouse + keyboard combination can't provide very well without being very difficult and un-intuitive to use. And while the obvious end solution is omni-treadmills, VR headsets, and motion-tracking sensors all over the player (as well as several cameras), that won't be practical for a long time. Until then, game makers have to keep appealing to the lowest common denominator - keyboard and mouse.