A very interesting idea - I enjoyed having Taoism presented to me in a way that at the same time distracts and amuses (look! Winnie-the-Pooh!) and educates. While I can't comment on Hoff's interpretation and explanation of Taoism, I'm left with the feeling that I've had an introduction, and that I know a little more than I did before.
I thought Hoff did a really nice job of selecting passages to illustrate his points. For the most part, I thought he'd found Pooh and friends' voices - the original dialogue and actions he wrote mostly felt good. (Not the poems, though - there's still a spark that's missing there.)

So, educational and entertaining. What's not to like?