Pros:
Cool enough to make me look up "thermal printing". How is it possible to print without ink? According to their website: "Instead of using ink, CUBINOTE uses heat to print messages. " Not a very useful explanation because I already knew what "thermal" meant but maybe they are protective of their technology.
Cons:
Printed image looks like it came out of a xerox printer from the 1970's.
The ink is obviously somehow "integrated" in paper (probably their product as you said).
The biggest advantage is the speed ...