That form looks good with the flys. The only thing I note is they have adjusted the axis point down to about shouldert level. I like it a little higher and also have a slight forward lean into the fly. This way you can really squeeze your pecs at the end of the movement but the range of motion they are using is very good.
Also with dumbell flys they are an equally good exercise for chest development but I know Omega likes to work in more of an incline dumbell fly/press movement into an overall chest program so this way you take advantage of both the dumbells and cables.