It's a convoluted contraption and funny looking as hell, but the idea seems okay. I think they reduced the larger cubed surface to this smaller lipstick version in order to eliminate waste. Look at all the used chalk and all that waste because people chalk up by twisting the cuetip down the core of the chalk.
In fact, if chalk was produced "lipstick style" people would start chalking up correctly.
just thought i'd bump this one more time to see if anybody knows anything about this chalk. looks like it's not something commonly available tho, so it's probably moot anyway.