This is pretty cool. I like the concept of being able to nail down stylistic stuff in a declarative config, in project. Big advocate of it. Especially in open source or on team projects where we want consistency and a programmer may need to do quick touchups. This allows them to open their edit up and hit the ground running without getting indentation mixed up.
There is a popular tool around that handles general style settings across editors and projects.
What makes this different from something like EditorConfig? Anything sublime-specific that your tool provides?
http://editorconfig.org/