It should be noted that he posted that in January. 
 
I am looking over both whitepapers now. 
 
https://github.com/john-connor/papers/blob/708f488c8c17e08a12bc4bdb4fc5ac1e2aaf6e24/zerotime.pdf 
http://vanillacoin.net/papers/vanillacoin.pdf   
 
The papers talk about how whenever a transaction is sent, that node will check a hiearchy of nodes (including a masternode?) to see if the majority of them have accepted it; if they have, then it will accept it too with no questions.  I have some serious mathematical issues with how this will work in real life. 
 
In any case, this currency is getting pretty big and if there's something behind this, then great: I will be a massive supporter.  But if something's fucky, it's time to find out.