Another project from Jetbrains, their new issue tracker Charisma was written entirely in MPS. Is the concept useful/practical, or is it too soon?
It seems to be a DSL for Java. Why not investigate it yourself? If it just generates Java source files, I see no reason to not give it a crack, if it's something your interested in and there is no rush on the project.
MPS isn't just DSLs for Java. It's actually language-angostic. You can generate your language into any other language that is supported by MPS. We support Java, XML, and plain text (as a last resort) out of the box in MPS 1.1. Probably, in future version, we will provide other languages such as javascript, css, etc.
One of the key features of MPS which isn't available in other tools is ability to compose languages. You can create several language extensions and compose them in a way that you want. For example, one vendor might implement a language for their database, and the other a language for financial calculations. They will work together well, and you won't have any problems like ambiguities, etc.
It's not the case of 'too soon' but rather the fact that this development methodology is, in itself, rather challenging. The cost/benefit ratio for MPS (and by cost I mean dissemination time) depends largely on the type of the project you're applying it to. If you've got a domain that can benefit greatly from DSLs (for example, with me, it's project management), then go for it!