Cool idea but I'm not sure I understand how putting Developers and Designers in a foreign country like Costa Rica is any more productive than bringing them together somewhere domestically. Last time I checked apps aren't built with sandcastles and lobsters. Although I'd be willing to invest in something that could be built with sandcastles and lobsters.
I guess the better question is why not? Technology has unfortunately become very Bay Area centric. Travel isn't for everyone, but it gives people a chance to live outside they Bay Area for a bit. The locations dont directly affect the products, but getting a new perspective on the world can't hurt. Think of it more like travel abroad programs in college.
I didn't say it needed to be in the Bay Area but I see the point. I loved traveling abroad when I was in the Navy but when you've been somewhere you've never been before the last thing you want to do is spend 14 hours behind a keyboard programming something. Especially someplace as beautiful as Costa Rica.
It looks like compensation is equity + cost of living/stipend.
I imagine Costa Rica could be a pretty solid combination of inexpensive + nice/interesting. If they can pay a fraction of the cost of hosting it in Palo Alto, but have it be way more interesting than Arkansas, perhaps they'll attract some good folks.