I've never actually used Swype, but it should be something that this keyboard can do. The Kickstarter page is very sparse on details on how this keyboard would use multi-touch technology, probably because they haven't really thought about how it's going to work. This seems more like a art project than a real product. Pinch-to-zoom on a mouse has already been implemented by Apple and Microsoft, it's hardly revolutionary.
What it should do is have a toggle that switches the keyboard into a gigantic touchpad, do you can type and mouse on the exact same surface. Why use an external mouse when you have the world's largest touchpad underneath your fingertips? Or use software to make both sides of the keyboard into a one-handed keyboard like the Frogpad.