So, VODO is something I just found out about. I'm probably way behind the times on this, but I haven't seen it discussed on the forums so far. I know people are doing the same thing with Kickstarter, but stuff on VODO is likely to have an easier time making itself known to audiences due to the ease of having a united front for marketing.
It's always refreshing to see more evidence that multimedia business models that are not copyright-centric are springing up and are, as far as I can tell, working. Granted, that pile of evidence is already pretty big anyway...
I just watched the first episode of L5 and it seems decent, and there's probably other decent stuff on there. The main issue with film/series produced in this way is that the acting tends to be weak, but I guess that this is something that will improve over time as such works become more common.