Modern Sonnet http://modernsonnet.blogspot.com/ wants "Aesthetic poetry that plays with a form of sonnet. Don't feel you need to rhyme, stick to meter, or make it about love (though we're a fan of those things, too.) Just make it interesting, and make it sonnet-y. Just try us and we'll see. We're equally fine with experimental forms as we are traditional." They take reprints, too.
As far as I can see, the post you link to is the only info available. Personally, without some additional information as to who's behind this, what else they've done, what the end product will look like, etc., I get cautious. Is there more info?
Thanks for the response, Michael. It bothered me too - I guess the editor(s) should have waited to tell duotrope until they were a little further along with the site. Anyway, I emailed "Modernsonnet" saying that serious formalists would want more info before submitting. I'll keep you posted.