Edit: Although I must confess I like the name, new Mustache() indeed!
Hello {{name}} You have just won ${{value}}! {{#in_ca}} Well, ${{taxed_value}}, after taxes. {{/in_ca}}
Admittedly, it's a bit obfuscated but whatever way you look at it, it's still logic in the view file.
All these do is make the PHP template SMALLER. It's still JUST as complicated. {{#in_ca}} is just as complicated as <?php $in_ca? x : y ?>, it's just smaller. Passing this off to someone who can only do html, it might make it slightly easier for them to read, but honestly if they can't figure out how to stay away from PHP tags (or understand the minimal amount they will need to to do front end work) they shouldn't even be doing front end.
I can't imagine investing the time to learn or switch unless it can do something pretty spectacular, missing something?
Oh, and yeah cool name. Ironic hipster etc. yay.
