I havnt looked at the link but it sounds more like a run flat then a beadlock.
Well, it is a run flat and a beadlock, which is a great innovative product-
It is a beadlock in the same way that the beads are locked on a tire that is inflated to 48 psi.
The whole concept is that they have a different chamber of air that fits inside both beads inside the tire. So I guess you would put the inner tire bead over your rim like you normally would to mount a tire, then slip this chamber-ring over the rim, and then mount the outer bead being careful not to pinch any of the inner chamber-ring. Then I would imagine that you air up the tires normally, to maybe 10psi or so, bounce the tires on the ground a bit to make sure that the beads are positioned correctly and centered on the wheel, and then, using a different valve stem that you previously installed, you inflate the inner chamber-ring to 48psi. So as that ring inflates, it expands and contacts both beads of the tire. So what you get is an area inside the wheel that is always at a constant 48psi, which is putting a force of 48psi against both inner and outer beads thereby forcing the beads up against the wheel just like they would be if you put 48psi into your tires right now.
Then you can deflate the tire pressure to what ever you want, but the beads will always "see" or "feel" 48psi up against them. So if you don't think you could loose a bead at 48psi, then you also won't loose your bead with the inner chamber aired to 48psi and the tire chamber deflated to 0psi.
