Ah the logo... I guess it's Zap's reference to the very early days of rendering, or just his way to say 'I did it my way' :D
I would like to see it supported by Corona, too. It's no replacement for CoronaMtl however as some special features are missing, one notable being no support for environment map overrides for relfections/refractions.
As for the diffuse roughness, can't say what it does but I guess it'll be the Oren-Nayar shading model. Refraction is called Transparency here. SSS is very simple to achieve and looks good imo but it's not the same advanced SSS that we have in Corona. I guess it will be hard to translate properly to Corona's SSS so you'll probably want to use CoronaMtl here.
ART in general isn't bad at all, it's actually working well for most arch-viz related tasks but lacks some of the advanced features most advanced pipelines need. I still think it's a very good addition to Max.
Another thing they've added in 2017 and that I like very much is the new Physical Sun&Sky Map. It has some very useful parameters and you can tweak it a lot. We definitely need it to be supported by Corona. Give it a go, I'm sure you'll like it.