[mayank]

Hmm...there's no mention of it being suited for a dynamic or "online" setting as another commenter notes (not sure why my other comment was downvoted for that). I don't know what to make of this from the description:

"This algorithm especially well suited for long S, multi-substrings, small alphabet, regex/parsing and search for common substrings."

Long source text: the O(n times m) worst-case time per search kills it. Even for a single search, O(n times m) worst case here versus O(n + m) for suffix trees.

multi-substrings: suffix trees do each substring of length m in O(m), but are not compared.

search for common substrings: again, suffix trees would be more appropriate.