Fantastic.
From the examples in the paper it would seem possible to use this system not only to "translate" poetry but also to "produce" poetry, ie to transform a non-poetic text into poetry. The first example is wonderful (table 2 in the pdf):
Reference: A police spokesman said three people had been arrested and the material was being examined.
Baseline: A policeman said that three people were arrested and that the material is currently being analyzed.
Poetic: Couplet in amphibrachic tetrameter
An officer stated that three were arrested
and that the equipment is currently tested.