A new Powers novel is always a treat. This one is a little unusual, in that it seems a little less punchy than usual. That's not to say it's bad - in fact, this style may be better than usual. Partly this is due to being told from the point of view of fewer characters (and none who are evil, as in some of his novels). In fact, even the bad guys aren't as horrible as some of his other villains.
The plot itself involves psychic powers and a time machine, and various plots and conspiracies to get hold of the machine. The main characters are the people who are inadvertently in possession of the device as the story begins. I'm generally pretty skeptical of time travel as a story element (especially now, after watching Heroes) but this is an interesting take on it.
The story also feels compatible with the world of Last Call, Expiration Date and Earthquake Weather. There aren't any actual crossovers (at least, none I noticed) but I wouldn't be surprised to see some in the future.