I hope it is fast because it sure is ugly, but not as ugly as that Giant/Columbia abomination. That thing has to be the ugliest bike I have seen since the Trek Y-Foil.
Do the decent thing OP and inform Specialized that their new bike probably fails UCI regs
Seriously, it looks like a one-off rolling test rig evaluating Giant's (the competition) front-end design rather than a bike to be raced on, so UCI regs & probably styling are not that important at the moment.
Who ever really made this bike certainly had difficulties understanding the 3:1 UCI regulation. But it seems every big player of the industry falls in this category.
Yesterday the NY Times there was an article in which the designers tried to defend their invention... funny to read what they think of the UCI... http://www.nytimes.com/2009/05/06/sports/othersports/06cycling.html?_r=3&pagewanted=1&ref=sports