It does look like a pretty handy piece of equipment and i would think light to boot.
The thing I like is that it looks like it might protect the chin a bit - this is because I have always imagined a good chin knock to be the easiest form of unwanted unconsciousness.
That's never a good thing when you're playing in water!

I am guessing the negatives might be that we are riding with our head at 90 degrees to our body with constant checks 180 the other way - will that work with this thing?
And perhaps get a mate to hit you with a fire hose up the back first to see if it's a water catching bucket like a gath.