Found this siggraph crytek paper from last year. http://www.crytek.com/download/Playing%20with%20Real-Time%20Shadows.pdf
They are talking about shadows in general and there is a tiny little section about screen space self shadowing that seems to use this technique.
As a screen space technique it's not a drop-in replacement for regular shadow maps, really just an addon to increase fidelity.
I can imagine it working pretty well for range restricted point lights though.
Are you using deferred lighting? Then it should be a pretty straight forward to incorporate the tracing into the rendering of the point light polygons.