Oh, I must have missed this bit when I read the post yesterday, as I literally just asked about it, in update post.
Yeah from what I understand it just seems like a tool for expressing your preference - it can also be "Twitched" so your viewers can vote as well. I can see it handy even if coop. Just expressing a preference will be less tiresome in the long run, then saying it out loud, especially if you play with more then one friend.
I would also be more interested in bigger interactivity - like coop conversations and such, perhaps companions being able to offer using their available lines. That's also something I would greatly appreciate for singleplayer. Generally RPGs are either single protagonics (allow single character to speak - PoEs) or are group RPG where you talk as a group (Wasteland2. Kingmaker). I found the constant need to go in and out of conversation in D:OS2 and go through the same content with multiple characters tedious. I would rather have an ability to use all available companions without the need to leave the conversation tree.