Foam Building Blocks

A recent trip through New Mexico & Arizona revealed numerous homes being built with a similar material (minus the OSB) as this: http://www.techblock.com
Any unbiased pros/cons with this material?
Most of the construction I saw up close was using a polyurthene intermediate foam as the 'mortor'. Although there was rebar, what are the other steps to using this material w/o the OSB?
TIA
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Looks like an ICF that they don't want to call an ICF.
Stacks like blocks, has concrete poured in them... this is a duck they are calling a chicken.

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Sacre Bleu wrote:

They look like SIP "blocks"...why not just use the SIPs?
The other problem, and it's a huge problem, is that they're recommending stucco directly on the block -- with no building felt or anything else. This is stupid. The OSB skin will rot away.
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3D Peruna wrote:

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