I'd have to read and understand the paper to be sure. However, high-level and logic synthesis tools do a job that sounds pretty similar. The Synthagate HLS tool converts [1] an algorithm into automata that are simplified, combined, used to generate data paths, used to generate control paths, integrated, and synthesized into hardware. They have a book [2] on the method that I'm trying to get HW experts to peer review in interest of imitating (or not) the techniques. Further, there's plenty of academics working with neural nets, error correction, and probabilistic systems on FPGA's. So, old as it is, elements of his writings might aid modern researchers or just be an interesting look on prior ideas.
[1] http://synthezza.com/logic-synthesis-in-synthagate-4/
[2] http://synthezza.com/download/AboutUs/Book2011.zip