Thats pretty niffty. I have tangles of 550 everywhere that could use this.
However, when I first read the thread title I thought it was another type of fast roping. 
PJ
Actually comes from Hojo Jitsu (Japanese Art of Binding) and is called a Hayanawa, a rope used for binding on or more prisoners.- George
Can never know enough knots.
This website has proven to be very useful in learning to tie sailing knots etc…
http://www.animatedknots.com/
That is actually the website I taught myself how to tie knots off of. Good to go in my book.
PJ