There really isn't anything complicated about using a common cathode diode pair for redundant Rx power. The Booma unit or the Western Robotics Battery buffer perform the same function.
There is also a large thread for those who wish to DIY a common cathode diode pair.

The issue with the Hangtimes configuration is that if a cell (or pack) shorts, it will likely bring downt the entire Rx bus voltage.
Using diode "isolation" will prevent this from happening and protect against both switch failures (open) and pack failures (shorted)
You can also use the dual diode configuration to combine a battery Rx pack in "parallel" with an ESC BEC output; thus if the battery fails the BEC takes over or if the BEC fails the battery takes over (depending on the voltage of the pack and ESC BEC output voltage)