So does the voting system serve any other purpose than just a gimmick? Seems like the voting is just going to go one way according to the whims of the botnet and/or the select few that own giant cluster farms. I imagine that the vote is going to reach a point where it's an obvious run away. And depending on whether or not the few that control the majority of the hashing power invested in the IPO will decide the outcome of the vote.

The majority of the hash power did invest in the IPO = vote less so that their original investment is worth more

The majority of the hash power did not invest in the IPO = vote for more so that their mining is worth more.

Don't really see it as a useful feature but rather just a gimmick to add to perceived value of the product.

And what exactly is the point on an IPO? The coin has already been made and I doubt the developers have already quit their full time jobs to support full time development. The lack of the escrow service lends heavily to the image that the IPO is nothing more than a quick cash out.

 In addition what is with the misleading percentage of premined numbers? The premined amount of coins is 5%-10%. NOT a more acceptable 1%-2%.
Pre: before, something that precedes.
Mine: the public service of miners hashing away at solving blocks.
Premine: the coins before public mining, i.e. The IPO and bounty coins.

You don't get the liberty of defining the IPO coins as not inclusive to the premined amount. That is deliberately misleading and that is not an oversight. This was intentional to give an acceptable publicly perceived premined percentage number to bolster the value of the product.

The IPO combined with the voting system only lends itself to manipulation. Not something a new coin that is trying to get established needs.