I like several aspects of that bike, but most notably the rear fender to tire relationship. Neat bike. It looks like he's used valve covers as a fuel tank, which is beyond my welding skills. There's a guy running around my town with a tank made from two old hemi valve covers; very cool and unique.
I think the mountain bike spring seat would be workable. I saw one close up at a local bike show that was built by Orange County Choppers, but it wasn't well thought out. It seems to me that the pivot point would need to be equidistant to the upper and lower shock mounts.
We should stop hijacking this thread. Please start a new one about your bike, and we'll have plenty to chat about.