quantum mechanics - Disproof of Bell’s Theorem

The half-page arxiv doc by Joy Christian of Oxford Uni, UK has the Title and Abstract:

Disproof of Bell’s Theorem

We illustrate an explicit counterexample to Bell’s theorem by constructing a pair of dichotomic variables that exactly reproduce the EPR-Bohm correlations in a manifestly local-realistic manner.

As The Bell's theorem is often cited it seems important to clarify this short doc.
Is the doc OK?

This recent paper Comments on "Disproof of Bell's theorem" by Florin Moldoveanu (July 06,2011)

can shed light in the interpretation and importance of the work of Joy and may be the case that the answers could benefit from it.

One conclusion that seems relevant, imo, is that Geometric Algebra is very promising to model the physical world.

LM post @TRF pointed to a pre-print of Gill (Simple refutation of Joy Christian's simple refutation of Bell's simple theorem)
and the Joy answer (Refutation of Richard Gill's Argument Against my Disproof of Bell's Theorem)
(thanks LM)