I think I see how it works. The rectangular piece, rounded on top is the bolt (cylinder stop). It moves up and down, possibly in a slot in the frame.
The sort of V shaped part pivots on the same pin as the trigger and is powered by the curved spring. As the hammer is cocked, a cam on its front moves the back end of the part up, causing the front part to move down and pull the bolt down with it, freeing the cylinder to turn. At some point, the cam releases the V part and the spring pushes it and the bolt back up to stop and lock the cylinder.
Assuming it works (whether that way or not), it would eliminate the split cylinder stop, a weak point in the Colt design, and the double spring. The problems are that it would substitute two springs for one, not really a better idea, and require fairly close tolerances in the camming action, closer than those needed in the original design.
Again assuming that my analysis is correct, the new parts would be easier to make and (probably) require less fitting, But it would increase the number of parts and I do not believe it would make the revolver more reliable.
Still, it is an interesting variation and obviously required a good deal of thought and careful workmanship. Had it come along 150 years ago, it might have had some influence, but the current SAA design is pretty much cast in concrete at this point, and Ruger has a lock on an improved and simplified design. I can't see any future for it.
If the OP has the time, one research approach might be a patent search to see if the idea was ever patented.
Jim