Real and cool as hell.
Rossy has been developing that thing for a number of years. Sure helps to have the Saudi's financial backing. That other one is one of the most experienced winsguit pilot/aerial acrobatics guys out there. Pretty incredible.
It's real uses model turbimes. It's only a suplimental flight suit. Can't take off or land with it. You jump out a plane and can fly for a shoot period and then deploy parachute to land.
Uses shifting body weight to control pitch and roll. No yaw control, the canards keep it straight but don't have any control.
The wing is capable of a rolling lift off from the ground, it has enough thrust to generate the needed velocity. But ask yourself this, do you really wanna strap on a set of roller blades and hope you don't trip?
Plus it consumes some of the precious little fuel the wing suit can carry for the engines.