I went to a talk by Penrose a few years ago with a few physicists. He was talking about a theory where you have periodic big bang-like events. My physicist friends had so many catty comments about how the talk was total bs. (Disagrees with observations, known conserved quantities, etc.)
This talk seems very much in the same vein. He seems to be making an argument that seems very much like a god-of-the-gaps version of consciousness. i.e. consciousness is the magic sauce in the part of quantum mechanics that we don't understand.
(In some ways, this is related to the Conway-Kochen argument http://www.ams.org/notices/200902/rtx090200226p.pdf that we only have free will if our component subatomic particles have free will.)
Mostly, though, it seems like old physicist syndrome: http://www.smbc-comics.com/?id=2556