It looks like 2 components:
1) a file server combined with a router/switch which may or not be running specific A/V oriented server software.
2) remote media players connected to the server by ethernet and connected in turn to receivers, TVs, etc. Up to 4 remote players.
While it's interesting, it's not really anything that doesn't exist already. I assume that they intend it to be extremely stable. But, you can do this now with a PC and media players (I use a MediaMVP, networked DVD player, and Audreys (music) for this kind of thing now). It's also a market that Microsoft is moving into.
My concern with anything like this is that most companies are not very good at supporting and updating their equipment. There are dozens of these media players out there now - but most of them have died or are close to dying. I would be wary of using anything that's proprietary or closed.
Of course, it depends a lot on how the Leviton devices talk to each other. If they use a standard protocol (slim, upnp, etc.) then there is hope of using them even if Leviton abandons them - or of using them with other hardware.
At least they say the system is upgradable - it looks like a larger hard drive can be added.