Interesting fly. It ought to work well here on the west coast for steelhead.
I've also noticed that many of the more recent flies, like this one, have the hackle tied as a collar after the wing has been tied in. This gives the fly a very different look than when the wing is tied in after the hackle. It is almost like there has been a rediscovery of the Caines River style hackling. Do you think this might be done to give the fly more of a baitfish profile, or is it done more to provide a small head? Whichever it is, it makes for much more color saturation at the front of the fly.