The water cooling seems pretty interesting. Fans concentrated on hot spots rather than just generally cooling the container. A stranger application is mentioned in Yahoo.
"And since the system is water-cooled, these systems could have a fascinating dual-use application in northern climates. The warmed water can be used as a heat source for adjacent buildings. With 80% of power in a data center being converted directly into heat, the ability to heat an office while providing it with computing services is even more of a value to business buyers."
Applications appear to be military, oil exploration, and those who need a complete, up and running, datacenter (probably not configured) in 30 minutes. Price? Starting at $500,000.