I've looked at it, but not played it. I don't think it is terribly Traveller-esque, it is a game of broadsides and fighters. Torpedos and mines.
While they have made an effort regarding the conservation of momentum, unlike a lot of games, I don't think it flows right for Traveller.
However taken on it's own it is suppossed to be very good and I did consider it at one point (I even bought a load of models).
Unfortunately I think it is effectively dead now. I don't believe Games Workshop supports it anymore and they are continuously selling off the bits cheap. It's been a while since I've seen the main game or the minatures in one of their stores.