I haven't heard of this version, but there was a similar project to Bookcrossing started maybe 10-12 years ago that I participated in heavily at the start, because I loved he idea. The book was logged on a website and you left the info in the book when you passed it on or left it in a free library or book-exchange space. Alas, though I logged all my books and tried my hardest to make it all go, it fizzled. Maybe it was just too much work for people to volunteer their time to do? Dunno. Here's to hoping this version takes off!