It should work fine with the same restriction as a normal camera (any 1s exposure of a moving object will get blurred to some extent). As long as it is a object like a seascape.
Remember that the lens is moving at a set speed. Had the camera recorded one slice of the picture and the jumped to the next one you would have had a problem with a moving sea.
If you are thinking about photographing a moving person or any smaller kind of object it will require a lot of planning when using a swing lens camera.
I'm using both a Widelux and a Noblex and I am very happy with both of them.
I use a Horizon S3 Pro and IMHO there will not be much blurring if you shoot facing the sea, where the waves are not moving parallel to the lens movement of camera, rather moving perpendicularly to the lens. However when the subject is moving parallel to the camera lens, typically it appears elongated.
Here's a good seascape example taken by Horizon 202, and at slow shutter speed I beleive.
Thanks for the responses.
That beach photograph is nice. Looks like I'm getting my Horizon tomorrow from Ebay. It will take a while to reach Australia. Will post some photos here definitely.