It doesn't look like it'd be that good for TEC tbh, although I could be wrong, and we won't know for sure until we know the dimensions.
My main worry would be that with a circle or oval, you would need a circle with a diameter equal to the distance from corner to corner of the TEC, ot there would be parts of the TEC that were not covered by the area the water can flow.
This would mean a circle 56mm across for a 40x40 TEC, not accounting for heatspreading anyway.
Thats pretty damn big, and this block doesn't look that large to me.
I'm sure they've thought of this though.
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