Without screenshots / explanation / some more content, you're not very informative... (edit: I know it's emacs, but without explanations it's like saying C-x M-c M-butterflies)
Alright, I confess to being a little glib; however, I'm merely suggesting another way that people already commonly "see many fragments of code (or other information) at once without having to navigate back and forth."'
It's not nearly as slick as code bubbles, but it does work for many of the use cases suggested above.
Indeed, programming is more about conceptual understanding than typing speed. I see bubbles as being more useful for understanding how an entire code base fits together than emacs buffers and windows.
Though, if we had a desktop that is infinitely expandable, then emacs, and any other windowed application for that matter, could be put to the same use. Really, bubbles is best as a general workflow paradigm, of which programming is a sub problem.
... by users that have managed to master entirely text-based editors like emacs or vi to a degree that allows them to still be as productive as their brethren who moved on to slicker IDEs :)
