I think this looks great. Especially the progress bar compared to alternatives.
What I think is missing the most is the handling of subdomains too. With "smart text" I could go to mozilla.org from addons.mozilla.org with one click. Also there's no domain highlighting, which is desired, for better distinguishability between the domain and subdomains.
Another useful thing that's missing is to set the ctrl+click/middle click tab opening to a background tab. Sometimes I want to open multiple segments, plus I set anything else to open in the background.
Some ability to change the font would be nice. For some reason with smart text the urlbar text had a lot better readability even though I have the same font forced by css (DejaVu Sans). With this, other addons or without urlbar addons it looks worse.
(I tried enforcing a larger text size but the results weren't as good, don't know why.)