Very inventive but uhm…
The HuffPo featured that sky lane in hash of other pictures (link below). It reminds me of the tubes they use in New New York in Futurama.
http://www.huffingtonpost.com/2010/02/04/bike-lanes-from-around-th_n_439274.html
Something’s missing in that commuting highwire act. Maybe since an actual one hasn’t been built yet. When the guy talks about making one 15-20 meters in length, it suggests to me he has thought it through slightly less than I have in the last 3 minutes.
When I see bikes ridden on cables (in the circus), they have two major differences from regular bikes. No tire (cable notches into rim) and the steering is welded straight. How does a bike with a tire ride on a cable? Sure, I guess there’s a way, but without a lenghy process of hooking up? I think I’d feel a lot safer riding in all that empty space between the cars – on the ground!
Not to sound like a wuss. It just sounds more like a piece of playground equipment than anything to make commuting either safer, faster, more efficient or cheaper. 
I don’t think you’ve read it properly. It won’t be a cable, it will be a hollow U-shaped half of a tube, the tyre will go in the middle - no need to balance.
What is this? A circus? 
Man up and ride in the street.