When I worked in the defense industry doing development using the waterfall software process methodology, we did stuff that fit the V-model. We used DOORS / Excel for requirements tracking, wrote long design documents, and had a QA person who wrote lots of HTML test documentation with clearly defined acceptance test procedures. All of these tools don't talk to each other.
An IDE like this could be applicable to any multi-month project with sufficient requirements complexity.
It's funny that defense and automotive are so similar in terms of tool chains for requirements.
I like this IDE from an engineer standpoint, but I think the killer app will be automatic report-outs. I wouldn't have to spend hours making status updates in powerpoint for every type of audience in the corporation.