The aero luff spar can be found here -
http://www.aeroluffspars.co.uk/Cruiser/Cruisers/Cruisers.htmlEssentially it is just the same as the furling systems used on bigger yachts, but the jib is permanently fitted on a carbon fibre spar with top and bottom furlers - and a round clear plastic spacer to separate it from the forestay. Being flexible it stows down on either side deck quite neatly, even for trailing, it's protected in a sock cover and is very quickly hoisted and tensioned with the jib halyard and tensioned up hard with the winch in the normal manner.
It appears to be now marketed through Cornish Crabbers (?), but I'm sure Matt could help you out.
I've mentioned to Matt several times now that I think it should not just be an option on the Baycruisers, but a standard fitting. Essential in my opinion, but I suppose he has to keep costs down. As you say, the vain hope you can reef the jib around itself is just not going to work.
Pic attached to give an idea of the type of sail shape I achieve - if you want to know more, happy to help.
Cheers