It's ugly and dirty, and perfect.
This reminds me of the 'nuts and bolts' system used by us aircraft-carriers to keep tabs on the aircraft on various parts of the ship (presuming that isn't just a urban myth); build something which does what it's supposed to and does it well, estetics can go f itself.
I don't know about using it in an office application where I'd imagine you would use the keyboard more than the mouse, but I'm sitting here wondering if I could use this with Photoshop, and how much time I could save by not having to go into the bloody menu for every option (clone this, paint over that, cut this, pipette that colour, burn that, etc).
Not to mention once I got used to it I would no longer need that pesky selection menu = more screen realestate for me to work on.
Seriously, give adobe a call and get support out of the box for this for their next iteration of their creative suite.
Jobbie, because a 1 button mouse is not a graphic designers best friend.