i think that pic is a few years old, i saw the same bike (without anyone riding it) in the same place a few years ago, i wouldnt think it would turn well when you lean.
Weather or not it is real or a photo shop special - it sure is a fascinating concept! Handling would be rather weird indeed - like y2z said - how would it lean? Maybe the swing arm pivots on two axis so the track stays in contact with ground...hmmm