re: "information propagation is limited by the speed of light"
Spooky action is what you have to assume if Bell's inequality is a correct description of reality and there's no hidden variable carrying the entangled state. But if this theory can supply that hidden variable then superluminal information transport is not needed, the state was always there waiting to be measured.
Got to say it's a hard sell, but not necessarily harder to believe than other interpretations of quantum behaviour.
Can I say 'pilot wave theory' and suggest this is not exactly new.