That's just an imperative program using "blocks" instead of "lines."
An innovative, usable visual programming language will introduce a new programming paradigm (probably based off of functional languages) that provides deep integration with the GUI and plays to its strengths, not just do a linear line->block transliteration into a graphical environment.
Although, Scratch is great for teaching kids about programming.
http://scratch.mit.edu/ ?
I am not sure I would like to use it for anything complex.