I doubt this could be used in a terrestrial plant, as the beam of fragments is radioactive, and would have to be captured and stored in some fashion. However, it appears to be a very promising technology for space propulsion, with enormous specific impulse, and could get craft up to a reasonable fraction of c.
For a power plant the idea is definitely not to vent the fission fragments to the atmosphere 🙂 …but rather to trap them electromagnetically and extract energy as you reduce their velocity to zero. That’s the part it might have in common with a focus fusion reactor.
After that you have to dispose of the waste, just like any fission reactor. But the problem is easier than for a light-water reactor, because the (relatively short-lived) fission products are separated from the heavy isotopes. I would guess you can also achieve high fuel burnup, which in a LWR is limited because fission products are trapped in the solid fuel. Some of them absorb a lot of neutrons, and some are gases that are bad for fuel integrity.
Some fission products are gases at room temperature, but that’s the same for any fission reactor. It does have to be handled carefully but there are well-developed ways to do it. I think one is to embed them in blocks of glass.
I don’t want to give the impression that I think it’s as good as fusion. But I think it’s worth keeping an eye on, just for technology sharing if nothing else.