I think parallel reconstruction is a legitimate and productive goal, if it leads to new predictions or more efficient methods of computing results in the standard model.

So far, I think (please someone correct me if I'm wrong) he's claimed the latter but not the former, and has it as a medium-term goal to claim the former but he is "not there, yet, but close".

I don't know if he's actually produced more efficient methods of computing results, if anybody knows of links, that'd be interesting to read.

I also think that he's heading down an interesting path (parsing the universe as a graph / cellular automata), it's an interesting choice of primitives. It does seem to be a Dual of fields, though, so I don't believe it can give us any more predictive power than modern Field Theory, but I guess we'll see!