This is a really interesting typeface found by my friend Stephanie called Book Club. It's cool looking, but I feel it's a good example of form over function. That's perhaps the intention, which would be fine. I can't tell from the author's website whether it was a commercial project or proof of concept, but in short artistic applications I could see this having a really cool effect.
I do, however, find it humorous that a typeface created with books is difficult to read :-)