I'm a Ph.D. chemist doing research in nanotechnology. Here's the problem I see with the "nanolube":
The "inorganic nanoparticles" are colloidal, meaning that they're solid particles held in suspension. The stability of a colloid (or, its resistance to agglomeration and precipitation, where the solid particles lump together and fall out of the solution) is dramatically affected by the composition of the solvent. The solvent, in this case, would be the carrier oil.
It's easy to formulate a colloid in a given solvent, especially when the solvent is highly pure. The real problem is what happens as the solvent composition changes. The carrier oil composition will be constantly changing as the it traps contaminants and the TBN plummets.
What I'm saying is that designing a colloid that is stable over the vast array of conditions that may be encountered in an engine is a daunting task, and this article doesn't even touch on the issue.
The term "nanotechnology" has become a buzzword, and more often than not the "buzz" is nothing more than some labrat's pipe dream. Until these guys provide some evidence that they've overcome the above problems, I call "Bunk!"