ChatRoulette is no fun, imho, because I don't want to see people jacking off or talk to random 70 year old men. (I tried it two days ago with a friend.)
People who use ChatRoulette say "I'm used to seeing guys jack off." (not just my friend, everyone I have talked to says it) That's a phrase I never thought I'd hear- nor something I want to hear. I wonder what they will say about this site.
Interesting concept... doesn't have the crazy/high-novelty factor that chatroulette has, but using FBConnect opens a whole different set of possibilities - only connect to people with a certain shared interest, gender/age, or "Looking for" ;)
I wouldn't consider random cocks "risky and exciting". In fact, that totally turned me off from chat roulette. Getting rid of cocks makes this potentially more interesting and hopefully more successful.
I'm sure that the makers of FaceRoulette are perfectly okay with competing in the 1% market niche of non-cock oriented videochat. The 99% cock oriented niche can be left to ChatRoulette; it is only fair, they are the first to think of it, and first to lose their pants.