Since the days of Yggdrassil, users have been complaining about the bugs in various software packages to people who are not directly responsible for them. It's about time that someone produced a tool to allow some form of interoperation between the bug tracking utility that a distro uses and the bug tracking utilities that the various component software packages use.
Now, I'm certain that it will have a lot of room for improvement, and it will have a lot of bugs. But the move is a really good one. With any luck, in a few years, someone will have a bug tracking tool that actually does a good job at it. (Not saying that Canonical's will not be it - but judging by software history, revision 2.0 will not be the one.)