There was a big push on them about 15 years ago, but I haven't heard anyone mention them in more than the past 5 years. There was also a push for Styrofoam foundation forms that were filled with concrete, but it seems that it also fell by the wayside.
California was big on it for awhile. I remember Bob Vila doing a segment on it years ago. If I remember correctly, someone on here has a basement with wood foundation, finished off, and is very well pleased with it.
I bought a new house in 1980 that had one after I moved to Minnesota. Of course, I was very concerned because the concept was very new at the time. I did the research but there wasn't much information on the long term endurance. I never had any problems while I lived there 3 years. I never heard or saw any that were built that way again.
This friend, Bob. Says his father used "it" on his with great success. But considering how wet my land gets I just cant see burying wood as a good idea. I'd like to see what my codes are and pour concrete but I am always open to sound less expensive alternatives.