Claiming to have created a backuptool "inspired on" time machine obliges one to give some more documentation than... ehm... none.
A few things I know about time machine, which are not trivial:
Every backup in TM is a fully consistend directory tree for which no special software is needed to consult it. Disk space is saved by using hardlinks on the filesystem in a very delicate way, including hardlinks to directories (!!!). As a result, one can very selectively delete backups without corrupting anything. (e.g., you don't want to know the state 11 am, but do want to know the states at 10 pm and 12 pm? easy facilitated without any special software).
TM uses a special feature in Leopard to keep track of modified files and directories, in such a way that TM itself does not have to scan for modified files, but is informed by the OS of modified files. This notification does not even require a deamon process.
Now I do believe one can wrap together something which does backups. But standard unix/linux tools don't offer the above facilities - AFAIK. And rsync certainly does not facilitate multiple hardlinks to a directory to be made. Therefore, this shameless plug probably does not offer something similar to time machine. Unless the author also claims that a Trabant is something like a Ferrari.