Will this enable Moore’s Law to remain valid for the foreseeable future?
Moore's Law is actually hanging in the pretty well. It states that the number of transistors per electronic package doubles every two years. We're still doing that now, only we've started doing it of late by adding dual and quad (look for 16, 64, 256 and 1024) cores per package, rather than complicating and speeding up each individual core. This memistor device could, in another decade, help continue that progression, yes, though not -exactly- as Moore stated it, since a memistor is not a transistor. Transistors will still be needed for logic gates. This memistor device appears to be particularly useful on the scale of tens or hundreds of atoms, but it is a bit storage device, not a logic gate.
From http://en.wikipedia.org/wiki/Image:Moores_law.svg:
