I have a couple basic questions I'm hoping you can clarify before this goes further, Excal:
1) What is meant by the term "background" in this context?
2) It is stated that the relationships between these entities are relative "according to law." What law is being referred to here? How is it a law when, apparently, everything is relative?
3)
Of course, if we think of space and time as a background, then the idea of space being the reciprocal of time seems absurd, but in considering the equation of motion, the reciprocal relationship of these two enigmatic concepts makes perfect sense.
I'm not certain that the conclusion ("makes perfect sense") follows.

Perhaps you can clarify what is meant by "space being the reciprocal of time." Mathematically, I see it in the equation, but I'm not sure what this means in a practical sense.
4) The model basically reduces all measurements to a form of motion, correct? As
snowflakeuniverse points out, this seems to complicate things such as distance. In this model, how would one express a measurement such as "three feet from point A to point B" and why would it rely on a function of time? Or, is the time considered negligible somehow?
Thanks for dealing with this. It's a
very fascinating idea, though I'm reserving judgement until I see more and understand it a little better.