Back in the 1970s, there had been a lot of experiments with this basic rig. Usually the main mast (mizzen) was further aft than on this design. In reality, based on what the design world understands about sail shape and rig design, this is a worst of all worlds rig. To begin with this rig requires the weight, and weight aloft of two masts disadvantages (harder to stay,greater cost to build and maintain, more hull structure and complexity and so on) without offering the usual split rig advantages of being able to carry a lot more sail area lower to the waterline and thereby reducing heel.
Low aspect ratio Genoas are the least efficient sails out there on all points of sail. The low efficiency in genoas occurs in two senses, drive generated relative to sail area, and heeling/side force relative to drive. Genoas are harder to depower than higher aspect sails or sails on a boom.
Since you can only efficiently furl 10-15% of the dimension from the clew to the luff (perpendicular to the luff) and you can't depower those sails very effectively you will be forced to make sail changes and carry a pretty large sail inventory, certainly larger than that of a high efficiency fractional sloop rig with non-overlapping headsails.
And then as others have said you are tacking two genoas which means two grinders at the same time. In other words an especially strenuous rig to sail, ill suited to short hand sailing.
And lastly you have the clew ans sheets whipping though the cockpit during a reef or tack, which seems like a real hazard to me.
To me this is simply a gimmicky solution to appearing to offer something different. But as demonstrated here, different does not always equate to better.
Jeff
