While this is neat, it is not without concern. My concern would be the phone being stolen or found by an unsavory person who uses the phone to navigate to "Home", which causes the camera system to stop recording just in time to not capture the offender(s).
Now, it should be simple to have a site to log in and quickly ignore the lost phone's location, but that will rely on you knowing quickly that something is amiss...
It is an awesome innovation to my mind. The hope is that the potential contingencies have been thought through.
As a person who installs burglary alarm systems, hooking up the cameras to a relay powered by the alarm system would be foolproof. Only when the system is away armed should the relay turn on to allow certain cameras to turn ON. I know for sure it would work with most DSC and Elk systems, but I bet all other brands can be set up to do the same thing.