I think the project is probably okay as far as the OTW are concerned - there's a guest post by the main researcher on the Transformative Works site that's part of the OTW. I get too annoyed by all the academic blather and I don't have the energy to dig into it, I admit. I suspect that since they did ask the users for permission first, the OTW doesn't have a bone to pick here, what with all the scrapers and malicious users who just spam us.