That IS rather cool!
Imagine, you can store your private key of some sensitive data into your fingernail! Noone would ever come to the idea of using YOUR fingernail for decrypting your data. Well at least until now when it was slashdotted. But how much really is 5 mega bits? 5000 bits / 8 = 625 bytes. That is more than enough to hold a larger 512 bytes private key of an RSA encryption which noone has officially been able to crack yet (though I wouldn't recommend anything below 1024 bytes nowadays).
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