Does this let you have people jump in mid-stream and have everyone synced up? Very interesting. It would be cool to have multiple formats supported too.

It lets people jump in mid-stream, however syncing clients is quite troublesome, since anyone can just pause their stream. It cannot really be enforced server-side to display the exact frame at the exact time. Maybe it can be combined with syncplay[0].

[0] http://syncplay.pl/

So is this like barebone version of Helix streaming server? (Or, something you can make a YouTube from)

I'm surprised I have never heard of the Helix streaming server before. However, a look at the supported formats makes me think matroska is not supported. This was the absolute goal of this project: stream in the matroska format. The reason is that most Anime and other subtitled videos are distributed in matroska, because it can mux SubStation Alpha subtitles. I wanted to be able to live stream Anime with my friends without anyone having to download it.

Nice! I've been looking for something like this for ages

me too ^^ this is really good work