Lot's of tech like that has been looked at. None of it ends up in production because it adds nothing but cost.
That system has many flaws I can see off the bat.
First he talks about the space savings of the size of the head, an inch in height and 2 inches in length. Whoop dee doo, what about the GIANT STEEL AIR TANK.
You are adding all that complexity (acutator, air pump, air lines, tank and some sort of timing system, to replace this:
I can't see it running in any sort of performance application. Did you see the example running on the bench, that was about a 1/4" of valve lift. On a tiny valve. You'd need massive air pressure to operate a large valve at high lifts and be able to hold it seated against combustion pressures.