Interesting experiment. But same idea as a tremolo bridge, but instead of springs in tension, he uses a magnet. An improvement could be the same - instead od directly pulling, he could try the hinge/lever setup like in a tremolo. Could also use mechanical advantage to make use of smaller magnets. An additional benefit is improved safety. But you would just reinvent the tremolo, only make it more expensive. Already, this sounds more or less like a floating style tremolo, but with additional floating. And increased price. And safety concerns.