Do you move the little thread 'hider' from one end to the other when you post the cap? I guess so, huh? Neat idea, but a little impractical, like Steve said.
I do hate holding pens where I can feel the threads, though. hmmmm
My monitor is not that good. You've converted it to a friction fit?
Whatever, its a really good looking pen, and shows some initiative. How does it fee in the hand? How secure is the cap? Probably not something you'd risk with a fountain pen.
The added feature is a threaded sleeve that can be moved to cover the threads on either end of the pen barrel. It is intended to not only cover the fairly sharp threads but also ease the step. I cringe every time some one opens a pen with this step design and tries to get a comfortable writing grip while making a buying decision.