Make no mistake, the Eldrazi are taking off in Modern. As people experiment with the archetype, you'll probably see a few new versions pop up in this column. This deck is yet another example of what's capable with Magic's fattest creature type.
By now, everyone knows that Eye of Ugin, especially alongside Urborg, Tomb of Yawgmoth, is a very powerful way to power out Blight Herders and the like. In order to turn on its processors, things like Relic of Progenitus are played maindeck. Rather than focus on processors, this deck is simply trying to do the most efficient thing possible, which is cast Ulamog, the Ceaseless Hunger as soon as possible.
Heartless Summoning is the biggest departure from the stock lists. Because of it, you can't realistically play Blight Herder. With no Blight Herders or Wasteland Stranglers, you don't to play anything to turn them on, so you have more room for actual acceleration. Kozilek's Channeler and Conduit of Ruin are the options that play nice with Heartless Summoning. I imagine that a Turn 3 Kozilek's Channeler is quite powerful.
Your Oblivion Sowers are definitely less powerful if you're not exiling your opponents' graveyards, but if the goal is to get to Ulamog, it might not matter. With massive amounts of acceleration, Ulamog and things like All is Dust should be easy.