Hi Jasper, well I've not got a lot of experience with protein pulsing aside from choking down amino acid drinks when I've been too ill to eat so I can't really comment from experience.
It does look interesting though for certain purposes. Fasting in general appears to have a lot of very interesting health benefits (neuronal autophagy for example - Marks Daily Apple did a really good series of articles on it years ago you could find quite easily), and I'm a fan of things like the 5:2 diet (although I wouldn't take in any calories on a fast day) for general health and weight loss.
Thing is, if you are taking in anything you aren't really fasting. While you are still going to be in a calorie deficit - and so promoting weight loss - I'm not sure you are still getting all the health benefits of the fast. I've certainly not seen any evidence to suggest one way or the other, but I would think that it's fairly intuitive to expect you'd not. I do believe you'd probably stave off fasting-induced muscle loss with protein pulses, however, considering how long it takes your body to start really breaking down muscle tissue (the study I saw showed 30 hours, I think) this might not be much of a concern. Might be different for dudes with a lot of muscle or burning a lot of calories though. I don't think I've seen a study that controlled for that.
As for muscle gain - I'm not convinced it's the best way. Amino acids are not calorific in the way more traditional protein sources are, and let's face it - you're not going to get bigger eating less. There was a thread here years ago when a VERY big dude got all his protein for an entire month from amino supplements and just ate tons of carbs and fats to fill up his calorie requirements. He did just fine on that, so it looks like it can be done, but I'm not certain it'd be the easiest way and you'll need to be VERY disciplined with your diet. Considering all the calories and nutrients you'd get from a sirloin steak (mmm, sirloin steak), I think it'd be way easier to gain muscle with solid food.
So my opinion: for dieting - yeah. For trying to get significantly bigger - not so much.
These are just my musings, though. Someone who knows more about it than me will probably come in and disprove everything I just said! haha.