Not new - at least around here. Several of them have been built and as pointed out, once you get past it being new, they work very, very well. Similar to roundabouts, people freak out about something new or different, but then once it starts operating figure it out and generally like them.
The left hand turn across traffic is a huge generator of conflict points in an intersection - and this arrangement effectively fixes the issue.
The same issues inherent to any signalized intersection remain (folks can run a red at any intersection - not just these). But the left hand turn conflict being removed is a huge improvement.
An example I use frequently can be looked at here:http://www.dot.state.mn.us/funding/projects/bloomington.html
It fit pretty much within the previous diamond interchange footprint - no additional land needed.
And to blow your mind, a light rail line runs right through the middle of this one...
Cloverleafs aren't dead for new interchanges here - but in many, many cases, there is a better solution.