It's had some limited use. The major news here is that it refers to film as in Eastman (Kodak) Movie Film at 24fps, not video. Prior to the release of Cinema Tools, this was not feasible.
Apple bought Shake last spring. It is widely used in pro production; all the Lord of the Rings films used it. The combination of FCP, Cinema Tools and Shake seems to be the breakthrough needed to move into Feature Films.