Stumbled on this:
Engineers Win When Cars Break Land Speed Records > ENGINEERING.com
So
something is being done with it, still...
One problem I can see with going about it a "different way", in the North American market, is economies of scale. They simply aren't there for any kit car, especially when the closest thing to a suitable off-the-shelf drivetrain that exists and is certified in the US for a car application is the ForTwo drivetrain, and it's overpowered for this car.
Lopping off a rear wheel would be effective, and then removes the safety requirements and greatly loosens the emissions requirements, but destroys cargo space and negatively affects handling (especially with the weight distribution of their driveline layout).
Then again, maybe they can get it into China or India for local consumption or something. I dunno.