Before getting too excited about another Linux file-system, this isn't a particularly exciting development, unless you happen to still be an user of Sega's Dreamcast video game console and trying to hack it with Linux.
On the Sega Dreamcast there is a Visual Memory Unit, a.k.a. a VMU, which is a micro-controller with a small LCD display and 128K of Flash memory. Sega was expected to offer up larger VMUs beyond 128K of memory, but apparently they never did. VMUFAT is what the Linux developer is calling this file-system to deal with these file allocation table-based volumes.
The Dreamcast has been discontinued for more than a decade now, but the Linux kernel may now see support for Sega VMUs. Aside from dealing with the hardware directly, this support may end up benefiting Linux and Android emulators of the Dreamcast. "I am not sure how many people are still hacking away at Linux on their Dreamcasts, but Linux or Android emulators exist for the Dreamcast and the VMU, so supporting the filesystem has a potential use."
The patch, which is unknown at the moment whether it will be merged into mainline, can currently be found on the kernel mailing list.