Saw this a while back on the Lippert site. Seems like a good idea, but I would ask the same questions about the longevity of the straps. I would probably order a couple spares now and keep them in the camper toolbox so I could replace on the road if need be.
I get the idea of being able to ratchet the straps up instead of the one big pull needed to snap the chains into place, but seems like release would be just as dangerous....you need to use the ratchet to release the tension while you disengage the locking pawl, and then repeat in steps until the tension is off of the straps. Has the same potential to spin the ratchet out of your hands if not careful on the release.
Still I like the idea. 7&7 be sure to post back and let us know how it holds up.