THe only problem with this is that they will need to restructure the basics being tough for everything else... like choking for example. The guideline to determine what is wrong for someone has always been to check A (airway) B (breathing) C (circulation). I used to teach this stiff back when the compression rate was 15 - 2. Then they bounced to 30 -1 with no circulation check, or reassessment after a certain amount of time.
THe best explanation I ever heard was comparing your heart to a well pump. You pump it once, hardly anything happens, keep pumping it, and eventually water (or blood) will make it all the way up (or through the body). As soon as you stop pumpin, the water drops back down the well (blood doesn't make it to the extremities). So it makes perfect sense to make the transition to more compressions and fewer breaths; but to completely getting rid of the breaths seems a bit iffy because once the blood oxygen is used up, you are just flowing useless blood around the body..... WIthout the breaths, you wont have any new oxygen.
ALl that to say, as long as people do SOMETHING, it doesn't make a difference if they follow new or old standards! JUST DO SOMETHING if you come across someone in need. And if you are worried about being sued, as soon as someone is unconscious, it is implied consent to help