About 10 years ago we changed out two 5 ton water to water heat pumps that were connected to a system like this. Each room had individual controls and cooled very well. The homeowner was from Germany and told me that these type systems were common over there. In heating, the hot water ran through baseboards and radiant floor panels and he had a couple ERV's in the home for ventilation. This was a 3 story home with a full basement and decks on the roof you could walk out on. Also had a elevator, so it wasn't your typical upstate SC residence.
IMO it's nothing more than a nice looking dust collector, It would probably be effcient for the first couple of years until the dust starts to settle along the fins, and you know most people wouldn't think to clean the fins wayyyyyy up there along the ceiling.
Like they say, Out of Site Out of mind !!!! When the average person doesn't see something on a daily basis or a few times a week they tend not to think about it, especially when it might be a PITAS to clean or keep clean. I would never put something like this in unless it was down on the floor where it was easy to access for maintenance and to clean with the swifter once in awhile.