I've overheard lots of discussion from iOS developers lately on this becoming a new trend. As certain apps increase in complexity the old Facebook home screen style becomes much less scalable, and this new method seems to be the answer.
My guess is we'll see at least another half dozen popular apps take on this style as well.
Yeah, would be a nice UI feature if it didn't cut off some of the labels, including Google's own "Important and unread" (at least I think it's that, the end is cut off...)
Think I'll just keep this app around for those odd times when I have to find an email from a week ago.