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From what I've read of the original proposal, the whole point of the service is for the service to use an encryption that they themselves cannot break - therefore cannot provide the content to authorities even if provided with a search warrant, since they won't hold the decryption key. While the user may control the resulting decryption keys, I don't believe they can specify the ENcryption key, which makes it hard to specify someone else's public key at the start of the cycle.
Unless there's an encryption within another encryption, with the whole private/public keys on the inside of whatever other encryption the service uses, but you're still left with a specific key for the file which must be distributed to allow someone else to use the file.
While I won't say it's impossible, I think this particular service won't easily enable the public/private key groups discussed above. It WILL enable the service to be strict about take-down notice requirements.
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