To me this reads as if restoring the old situation whereby a JAA IR holder could skip his IR revalidations if he held a valid FAA IR (for which the 6/6 rolling currency is the normal way) in the meantime.
You can now go for up to 7 years before you have to re-do all the IR exams.
But you still have to go back to an FTO for "retraining" to regain the JAA IR if you went past the first year.
I've updated my JAA IR writeup.
