For people that want this outside of Sublime you can get TaskPaper, same thing (I guess this plugin was based on taskpaper). Available at the apstore. I use it daily as my todo manager.
If you like TaskPaper—which by the way it's awesome—you should check [FoldingText], by the same developer. It's currently in alpha, and expand on the idea of TaskPaper adding some interesting features, like the builtin timer.
I just did and I like quite a bit. It is very interesting. How much interesting it will stay really depends on the price. I don't intend to ever spend $25 for TaskPaper, so unless it is a $4.99 purchase, I will pass.
[FoldingText]:http://www.foldingtext.com