Boing Boing and MAKE Magazine both had links to it. The main article, found here, also has a link to a story about how the bike was actually made, available here.
This looks super-light and super-cool. Though I must confess that I don't mountain bike much anymore (I'm really too injury-prone to do it...), this bike still looks like it'd be a lot of fun to make...and maybe even to turn into a commuting beast. Oh wait, I need a job to commute to before I really plan on commuting anywhere. Well, regardless, this looks like a really fun project, one I'd like to try, maybe once I land myself a job.
UPDATE: It seems the MAKE Magazine trackback link isn't working for me, so if you want to check out this really neat magazine, click here. :)