Fantastic buy
Congrats to CryptoCard. They have picked up a great technology.
To clear up a few issues that others have mentioned...
1. Capturing the Grid reveals the passcode - not in one hit - it is stronger than passwords as you would need to collect multiple instances of the Grid and response. Plus you have to be screen scraping in addition to key logging, which starts to leave a bigger footprint and again is harder to achieve. Entirely possible for the more determined though, so you have to think about what you are protecting and if the risk has been covered by the solution. However, as others have already mentioned, a step up from passwords, and think about what we are using them to protect!
2. Not a 2 factor solution - TRUE when presented on the same device as passcode entry - BUT, think what happens when you take the Grid and put it on another device (such as mobile phone)? You are getting a 2 factor token/Grid that doesnt reveal the code of the "something you have" in the same way as a token does. So it becomes a stronger 2 factor method than normal tokens. Please notice I havent called it a stronger solution, as there are risks when transferring seed tokens to other devices, as opposed to hardware tokens, where you do not have to worry about it to the same extent, and they have to be considered/mitigated against. So, in terms of method, grid on the screen is 1.5 factor (stronger than password, weaker than typical 2FA token). Grid on seperate device possibly 2.5 factor (stronger than token). Clunky way of showing it but seems to work considering we are stedfast in 1FA, 2FA and 3FA terminology.
3. Four digit passcodes - if 4 digits (10^4) isnt strong enough for what you are protecting, make it longer. Make it 6 and have 10^6. If you want, make it longer. Those odds make it more likely to win the lottery, when combined with a security policy that locks the user account after multiple failed auth requests. Security always has a building block approach for the different attack vectors, of which authentication is only one block :)
And above all this, patterns tend to be easier to remember. I used Gridsure at the beginning of the year for personal laptop access, and I still remember my pattern! Definitely a method to consider when looking at a secure authentication policy, as it is so flexible in how it could be implemented and used, you wouldnt need multiple auth methods in the same environment.