I've never seen that formula either. The ingredients are the same as the stuff I call "Instant MYTOL" (see http://www.photosensitive.ca/wp/easy-film-developers/) but the quantities of ascorbic acid, phenidone and TEA are much higher. A 1+9 dilution of that soup would have a working phenidone concentration around the same as that of XTOL 1+3, IIRC.
It differs from PC-TEA in that it has that 60 g/L of sodium sulfite in it (which tends to affect the pH as well as film grain).
Let us know how you get on with it, long-term.