So what type of algo would you call a coin that uses this? TCP? like POS? Has this been deployed into any coin yet?
Let's call it PoV (proof of validation), which is a type of PoS, for now anyways. There are aspects of the protocol that work together as a gestalt, and labeling it as proof-of-X is an oversimplification.
In terms of deployment, there will be. But lets go to
http://forum.tendermint.com/t/the-apps-category/20 to discuss ways to move forward before deciding on a particular application. The consensus logic is already implemented so it's just a matter of deciding which application is more exciting.