Authentise's approach is far more palatable than an idea cooked up by Nathan Myhrvold, a former Microsoft CTO and the co-founder of "patent troll firm" Intellectual Ventures. Myhrvold holds a patent for 3D printing DRM that would force you to get authorization from a remote server before being allowed to print off any item at home, according to ExtremeTech. It's the typical "all users are potential pirates, so let's treat them that way" approach seen in most use cases of DRM, but in 3D.
Authentise's solution should be far more palatable than having a virtual 3D printing cop embedded in your PC, but as with most forms of DRM, SendShapes is also just begging to be cracked.
But even if SendShapes isn't bullet proof, it doesn't mean it won't work overall. People have proven through the success of iTunes, Spotify, and Netflix that if a convenient commercial method is available for buying digital goods, it will beat piracy every time -- assuming it charges a reasonable price for a quality product with few restrictions, that is.