It's an intriguing idea, for sure, and I'm thinking about joining, although given that I'm only really in one fandom I would be more interested in an FF-centric remix community or project. (Anyone up for something like that?) It does raise my eyebrows a bit, though, that she says she rejected the Creative Commons license as a solution because we don't "own" the rights to the fic we write. I disagree with this sentiment, pretty strongly. The legality of fanfic has never been tested; it's a gray area of copyright law, not a bright line. But even if I don't own the characters or the world of Spira in a legal sense, I do feel that I have some ownership of the stories I created that use that world and those characters. Okay, the CC license might not stand up in court, but that's not really the point.
Still, anything that gets this concept spread further in fandom is good by me. And seriously, anyone wants to do something like this in Final Fantasy, let me know.