If the HDDs spindle up and down every 4 minutes because that's all you use them for, most WD green disks won't live to see their ROI. "Higher quality" storage might live longer but nevertheless that usage pattern kills your disk alot faster than permanent non-sequencial IO would do.
Once the amount of energy that is needed to properly recycle/decompose a HDD is taken into consideration, I doubt this coin is more energy friendly then the ASIC coins are.
The way
funkywizard interprets the mining process, which is the same way I interpret it, strikes the question whether the coin can be mined in a Virtual Machine. A dedicated miner VM could be snapshotted after creating the plot file, and then cloned at virtually no expense per clone, as the clones don't write but only read their storage (clones are copy-on-write on most VM solutions). If that doesn't work out for some reason, iSCSI booting many slaves from a host that provides disk images from it's deduplicated storage might be a trick, too.