The use of an adjustable suspension hammock would be a good idea to keep the weight of the lens from causing damage to the camera body and/or lens attachment over time. Also it be killer to have the ability to attach a small light weight tripod. This is very much like the Case Logic SLR Sling (SLRC-205) only looks better made and is designed for biking comfort. Add those two features and maybe the option to put a cell holster on the front like a chrome bag and you've made the worlds best (first?) SLR messenger bag.
Wow cool. That's pretty sick. Any other examples or different angles? Wait I found your flickr...
Quetzalli, I am almost certain this is his first prototype. You can see more photos of it on a cyclist at his Flickr page. http://www.flickr.com/photos/chicagowig/sets/72157624262223413/.
I'm going to hold out on purchasing one until I hear if there will be an added tripod attachment and a suspension hammock. If those two things are not included I may end up going with the Case Logic SLR Sling (SLRC-205) and modifying it.