Not real sure how they got a patent on anything in the suspension or any part of the vehicle for that matter.
See:
Sliding pillar suspension as used by Decauville in 1898 and in the better known 1909 Morgan.
As to the remote actuation of a spring via closed system hydraulics see Citroen DS series. Also see
Active Suspension for systems that really do something. And for racing applications of Active suspension see:
Williams FW12 F1 car.
Unfortunately nothing new to see here.
However as an added benefit there are plenty of dynamic problems with this particular type of system. The most glaring one is "0" camber change.
But for a Hot Rod that never will attempt a corner at speed, it will certainly bring plenty of Oh's and Ahh's on the car show circuit.