It is certainly good news for those who are waiting for the Oz3W.
It is going to make the M3W a very expensive toy in Australia and as such it is hard to see that the sales achieved will justify to expense of Australian homologation. I am surprised, given that they have insisted on homologation as a car, that they have relaxed the rules on pedestrian safety. The front end is not exactly pedestrian friendly.
Some of the Australian Design Rule requirements may be good to adopt on mainstream production, at least as an option. The more substantial roll bars, the head rests (anti whiplash), and the high level brake light all look good. Though with the high level brake light fitted it would look better if the fuel cap was moved to behind the nearside headrest/roll bar.
Morgan would also do very well to widely publish the crash test reports and photos. The fact that it has passed fairly stringent crash tests would be good publicity and assure some people who are worried about how safe the M3W is in a crash.