It's no new technology to stop a 44 Mag with a lightweight vest...the trick is trying to keep it from punching the vest 6" deep into your chest. Sure...it didn't allow the bullet to pass through...but you're still in a world of hurt. Notice in the video provided in the OP where they show it stopping the 44 against the gel block that it drives it deep...and they stop the show before it gets to the end of travel because even somebody who doesn't know anything about vests would notice that having that thing punched that deep into you wouldn't seem like such a victory.
The ceramic plates spread the impact wide enough to prevent most internal damage, and unless the Non-Newtonian fluid can instantly turn to something harder than steel it's not going to work so well. BAE poured lots of money into the research, as have the Poles and probably a dozen others all around the world...without positive results. But some female Cadet and her helpful professor have solved the puzzle!! Good for them!