Time for one last go at this, because its getting tiring to make sense of your opposition.
1) The amount of heat a motor generates is minimal, when compared to what the components it is cooling generate. It's best described simply through construction.
A fan can be constructed out of plastic, with minimal contacts built from metals. Obviously, the fans don't reach a high enough temperature to melt the plastics.
A CPU can be used to ignite thermite. If you want a demonstration, check out the hackaday archives. It burns through metal, and ignites the phosphorous which starts the thermolytic reaction.
2) This is not a tornado. It will never be a tornado. A more apt comparison would be a mixer.
If you set the mixer to high, and blend a beverage (lets say it's a rum and coke, because after arguing this I feel like I need one) you can remove the blender from the beverage without anything on it. If you were to set the blender much lower then you could remove it with parts of the beverage still on it.
In this same way, a fast spinning blade can remain cleaned of dust.
Additionally, set a blender into a beverage, extract it, then turn it on high. Bits of that beverage will be flung throughout the kitchen, which illustrates what any settled particulates will do on this cooler.
3) Bearings get hot. Very, very, hot. I dare you to drive a car for an hour, then touch the grease from the pumpkin. It's scalding hot, and it is what was flowing between the bearings.
Extrapolating, imagine a bearing that could have grease infinitely pumped into the bearing. The grease would remove heat, as it was pulled away from the bearing.
It takes very little to then see this happening in an air bearing. A physical contact (ball bearings, needles/pins, etc...) are replaced by fast moving air. The air bearing is separating the metal bits, and providing an infinite flow of "lubrication" all at once. You get both a long lasting component, and insane cooling through conduction.
4) Most of the heat from the processor will be channeled to the air bearing and sink via heatpipes. Heatpipes use phase change cooling to transfer energy. It's like the bad ass cousin of water coolers.
Take five minutes, and find the phase change energy of water (liquid to gas), versus the heat capacity of water (in a liquid). I'll let those that remember high school physics move on, and give those remaining a quick run down.
The energy required to change a given amount of atoms average temperature one degree is its heat capacity. Lets take a look at water specifically:
http://en.wikipedia.org/wiki/Properties_of_water
We can see that the heat capacity of water is about 4.2 J/(g*K) (joules per gram per degree Kelvin). We can see that the vaporization energy for one mol of water is 40.6 kJ.mol at 100 C. What does this mean? (assuming all results are basically standard atmospheric pressure)
You can get water to change from a liquid at one temperature to a liquid at another temperature rather easily. Conversely, changing that water from a liquid to a gas takes a huge amount of energy, and you don't even raise the temperature.
Phase change cooling takes this principal, and changes the pressure around the water. A partial vacuum is created, so that water will boil at a lower temperature. It could boil at 60C, rather than 100C.
So now you've got boiling water, taking a huge amount of energy, and traveling away from the components. You can pass air across the heat pipe, and cool the water back into a liquid. Through both gravity and capillary pressure the liquid is forced back down, and the process is repeated.
This heatpipe can take heat from a component, and transfer it better than conduction ever could. Assuming the other end of the heat pipe is in a high fluid flow situation the process could take almost no time at all. Pulling heat away from the components is then very fast, and basically just an extremely effective evolution of the heatpipe techniques that are already in use today. If it works right now, why is there doubt that it will work in the future?
5) My final question to anyone out there is why is this difficult to understand?
Water cooling uses a fluid, which absorbs and expels heat via conduction. The thermal capacity of water (how much energy it takes to change one degree) is higher than air, so you can get either cooler running systems (same rate of fluid flow as equivalent air cooler), or significantly less fluid flow.
Air coolers pump a fluid across fins, so that the conduction of heat into the air cools the components. Same idea as the water coolers, just a different fluid at play.
Extrapolate that fast moving air acts more like water as a heat transfer medium. This is, greatly oversimplified of course, what is going on. A known fluid, air, is being forced to act more like another fluid, water, currently does by manipulating its other traits (namely velocity). What am I missing, that people seem to be so bent on pointing out?
I would be really curious to see how well this works and what happens after long periods of use because any device that moves air is susceptible to dust buildup and I'm sure that after a while that air cushion that the cooler rides on might not be as big if dust does build up. I would also imagine that this thing would have to be balanced perfectly to work properly. I don't think I would be an early adopter, I'll let others figure it out. 
