I read through it, but don't see how it's any different than using a regular machine to attach the binding with a 1/4" seam (especially using a 1/4" foot with a guide). I'd actually be a little worried using a serger given the blade (unless you disable the blade) or you could defeat any careful trimming/squaring you had done.
That said, sergers certainly are fast and the seams they create are durable. I like mine for home dec sewing and might try it for a quilt binding in the future.