Just a small point, Sasless is correct in that a paraglider is not designed for the loads that a parachute is capable of withstanding on opening, but in this case it would be opening at nowhere near terminal velecity. I dare say however that it would still be opening above its design spec even though there didn't seem to be much forward speed when he dropped.
Having said that, it is one on the most crazy f*&king dangerous things I have seen. Fun till someone loses an eye!
One more thing, from what I can remember, I don't think paragliders don't have a reserve (I will stand corrected if that is not the case).