It's just using 4-bit data transfer instead of 1-bit transfer on a regular SPI flash, right? So the data transfer rate is four times as high, but don't forget you're sending some SPI commands inbetween as well.
Given that the SPI flash commands for transfering data via all four data lines are orthogonal to the "regular" ones transfering data via single line, booting from this device should not be an issue either.
Just make sure you power-cycle the SPI flash when the CPU restarts, otherwise you might not be able to boot (if the SPI flash is in undefined state, the CPU bootrom will fail to boot from it)