The idea there is to offer an encryption engine that allows to handle not only access (like OpenID) but also internet activity. This probably not new and I guess that quite a few solutions of that type exist.
Making sure that what you are doing is protected, might not be of everyone's concern but surely will interest professionnals or heavy internet users, not necessarily willing to get their activity spied.

This is not my favorite project but most probably because I do not feel concerned by the service, but still worth having a glance at it.

If you would like to see what it is about, go to the presentation of clipperz.