The idea is neat, cause thousands of people use Facebook. But, well... it's not a real PM application, is it? It just doesn't have the right features, so it can be used for real project management. This app may be nice to play around with, but nothing more. In my opinion project teams will still continue to use tools like Wrike.comhttp://www.wrike.com/. They have graphics (like Gantt charts), tasks scheduling features (like due dates) and lot of other necessary functions that actually help to collaborate and complete a project.