I think this is an awesome idea and is incredibly straightforward. Here's what we got, here's what you'll get, what have you done? I assume however that once they've selected some good candidates, based on github participation and code, they take the time to get a feel for the actual person. I know a lot of really great developers who are just horrid to work with in a team environment.

Good to see you guys are being innovative with your hiring. I love the NO-BS approach.