I just sleep a bit longer, cuz I'm ill and then such a thing happens lol.
Well, the main information is available via PS3news.com CLICK.
I just tested the software they uploaded and can confirm it works so far.
I can tell a bit about the backup manager. It seems the software uses bd_emu features to manage the backups. The HDD to use, should have a modified bd emu format, which sets all backups on first position, so the PS3 detects 'em all. Then you can choose the image to boot via the manager.
To directly copy and boot a game, the software would need to decrypt all layers on the fly. Meaning it decrypts all executables somehow, else it won't run. Even on a debug unit.
The hardware look like a copy of the original PS3 jigstick, used in SONY service centers to repair broken PlayStation3 SKU's. Someone internal leaked or sold a stick, so they had the chance to reverse and clone the hardware.
The stick should boot before the normal firmware does, so it's hard to patch it. Maybe SONY could update the bootcode to prevent it, set it to a revoke list.
By the way, in all videos they use debug PS3's to run the software. There is no video showing the actual process booting on a retail PS3 afaik. So I do not confirm that this is true, yet!
If it's as true as it looks this time, good job guys!
Download: PSJailBreak Backup Manager .PKG File