It's not a new idea. This has been done to seal plaster walls since wallpaper was invented. What it does is stop the wall from absorbing the paste on the paper, which leads to dry areas where the wall paper hasn't stuck.
For years, I've papered bare walls by first pasting the paper, then, while it's soaking, I paste the wall, then hang the paper. Never had a problem by doing this. Use the mix recommended on the paste pack for the paper to be used.
Drying time will depend on various factors, like room temperature, absorbency of the wall and paper surface, (vinyl, type of ink for pattern), etc.
With lining paper, I can usually use emulsion paint about a day-and-a-half to two days after putting it up.