Supposing that this project is true it is probably going to be China's counterpart to the U.S. Silent Eagle. Unlike the Silent Eagle, however, I don't see this plane getting exported due to the fact that it remains a Flanker variant. It could certainly serve as a stop gag measure (a counter to the F-35s) if the J-XX experience delays. As for this plane being fielded in large numbers... Sorry, that won't happen. A flanker is a heavy fighter and can be extremely maintenance intensive/costsly.
From the front and side view it resembles a Flanker, but from the top-down view it doesn't look anything like a Flanker.
So you have to ask the question, "when does a Flanker stop being a Flanker?". I think the airframe is unique enough to justify not calling it a Flanker, and thus have export potential.
If this project is true then I do see this as a stop-gap measure since J-XX won't be ready till 2018 and even then, there will only be a handfull of J-XX.
As good as J-11B is, it's not going to fare well against the types of enemies it will potentially face between now and whenever time J-XX is inducted, so J-11B will need to be further developed.
USA already has ~180 F-22 and F-35 is expect to come into service from 2014 - as Robert Gates said, by the time China has a handful of J-XX, US could possible have a thousand 5th gens.
Although J-11B could hold its own against Indias Su-30MKI, India has already signed contracts to upgrade their MKI, widening the gap.
Russia is also doing the same thing - working on PAK-FA whilst ordering Su-35BM.
