The Tikbalang are an interesting and evocative race that can easily fit a PC or NPC role. Their psychology is different enough to make them unique without making them at all unplayable.
There are full stats for playing a Tikbalang. On first look the mechanics look fairly balanced. I think that they'd make a very decent race for their intended classes without being the outright best choice. Which is a very good thing in a 3rd party product.
Although they'll obviously not be in the Character Builder you could still build almost all of the character in the Builder since their feats and racial power do not directly affect other powers.
I've a few tiny quibbles. Sometimes they word things in slightly abnormal fashion, sometimes the English is slightly stilted, the art work could be a little better. But its well worth $1.50.
I'm looking forward to the other items in their campaign setting