How much energy it takes to switch 0/1 states? What voltage? As I am not in the field, it would take me too much time to extract this information from the article (what is "trimeron annihilation" and how/does it relate the classical hole-electron recombination?).
I assume that it is possible to be 1000 faster only if it takes considerably less energy to switch states. It means that even if the latency constrains the speed, it would still produce less heat and will allow simpler clock/power lines.
As I understand it, one of the major factors that slow the speed of today's electronics is power. Be it in the form of routing constraints (possibly wider metal lines and possibly wider minimum distance between them), power dissipation, battery capacity in mobile devices, or cooling in servers, all are constrained by power. If this technology can lower power requirements then there will be a significant speed-up either in the form of more cores on a chip, or newer computation models that work better with deeper pipelining or with wider SIMD operations.
Another potential advantage of the fast switching is that it enables or enhances other computing models. Maybe we will move farther away from a pure CPU programming model to an FPGA/CPU hybrid programming. It's time to brush up your VHDL/Verilog capabilities, or to teach your pet language (compiler/interpreter/JIT) how to emit an efficient HDL. The advantage of FPGA programming is that you can define your own pipelines according to the computing task at hand. Another thing to consider is that with these switching-speeds it could be profitable to time-share an FPGA. Finally, it may be possible to reprogram an FPGA in less than a second.