Interesting catch phrases, but I don't understand the technology based on the information in the article. Pulling 1 MW of power out of a jet engine and then transferring it to an electric motor driven propeller to produce 1 MW of power there does not sound useful in any aircraft I can imagine. There is no time shifting of the power without heavy batteries, the electric motor adds a lot of weight, and combining jet propulsion with propellers on the same aircraft can be problematic, and is probably done more efficiently by directly driving them as in a turboprop. I can see this being useful for other electric power needs such as powering a laser weapon or de-icing equipment, as mentioned, but that does not seem revolutionary. It is just a different form of the generators already in use. There must be more to this that the author did not explain well if they are spending money to develop it.
I believe it's two separate tests:
1) siphon 1MW of electric power from an F-15 engine
while still allowing it to be function as an F-15 engine. This will allow high-electric power devices like airborne lasers to be used on those platforms, without need of separate generators (supposedly a 747 requires 6 generators to develop that much power).
2) demonstrate a 1MW electric motor for aviation use, in place of a turboprop. They didn't explain this as well, but the theory I've read is turboprops are usually sized for climb performance, then throttle back quite a bit for cruise. Using a serial hybrid setup with a small battery (used for climb only) would allow using a significantly smaller engine, which can ultimately be more fuel efficient. I think VW has a similar car proposal in the works, a 80 mpg car that is purely serial hybrid with a small battery. The small engine just runs at one super efficient rpm, and the electric side smooths things out and provides adequate power.
I don't think (1) and (2) have anything to do with each other, other than both mention 1 MW envelopes.