The illusion itself is quite simple, but I think it can be leveraged to make art based on confusing the perception of the audience.  We also tend to make judgements by comparing things with our eyes, and snap decisions about size often involve judging the relative size of something based on whatever similar edge happens to be closest.  Optical illusions were used to great effect in OKGO's music videos, especially The Writing's on the Wall, where color and geometric illusions were used to wow and confound the viewers while they listened to the music created by the band.  Jastrow's illusion I think could be well leveraged in pieces taking advantage of perspective and the warping of perspective.  It would be interesting to see it used in a 3D program like Maya which could move pieces so they may seem to be changing size but are in actuality the same size.