I'll admit to not reading it very carefully, but mostly because I didn't like it. The author seems very bright and should be applauded for talking the text seriously. However, I think he imputes a theological precision to the text that I just don't thing is warranted. The Book of Mormon is not a formal theological treatise or an exploration of systematic theology (in my view that author treats it as something like this throughout). I think the most one would want to conclude from a single sentence like that is that Nephi (and the church) believes that an aspect of grace is compensatory. Which is hardly problematic and not the only way that grace is talked about in the Book of Mormon. Grace, for example, is transformative in Ether 12:6.
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