I consider this more of an ornamental escapement rather than a practical one. There are much more efficient ways of building one using standard Technic gears. My goal with this was to build a custom gear that would be visually appealing and form an interesting part of the model itself.
This is obviously just the core mechanism, and you need to add some kind of pendulum to control the escapement and a weight attached to the spool to power it. My two implementations might give you some ideas on how it can be used.
Note that the performance depends heavily on how freely the pendulum can swing and the escapement gear can turn. You want to minimize any friction in the system.