Although it has been around for a while, it was when I saw oGs_Supernova do it at the IEM Season VI World Championship at Hannover when I really got interested enough to try it. This is still a relatively new build that I've been doing, but I have been having great success with it, especially against fast expand builds. It is insanely aggressive and very micro-intensive, you have to be so careful to continue macroing properly while executing this build.
10 supply
11 gas
11 gas
13 rax
16 tech lab
16 OC
16 Reaper
17 fac
18 gas (2nd)
20 Reaper
22 supply
22 Hellion
24 port
+ swap port with rax ASAP and begin Banshee/Cloak
16 OC
16 Reaper
17 fac
18 gas (2nd)
20 Reaper
22 supply
22 Hellion
24 port
+ swap port with rax ASAP and begin Banshee/Cloak
Immediately at the end of this build order you will have around 400 minerals and no gas (this may vary a bit), I usually drop the Command Center at this time, however there is always the option to go ahead and one-base all-in or build a bunker and some Marines to be safe and get a later Command Center.
EXECUTION: This is a very very micro-intensive build that is optimal on Reaper-friendly maps such as Tal'Darim or Shattered Temple and can not be afforded sloppy control. The are many ways to execute your attacks from this build, I like to pop up with with first Reaper to scout, see what I can do, then get it out alive. Once your Hellion pops you can opt to attack, even up the ramp if they don't have a bunker or simply use the Hellion on lower ground to cover Reapers up on higher ground - you can be really creative with this, the idea is do kill as many Marines as possible for the Cloak Banshee follow-up that can do massive economic damage. IMPORTANT: Killing an SCV building something is great because it slows down the other Terran's tech/production.
IN GENERAL: This build can transition into anything: bio, mech, sky Terran, as it ends with the infrastructure for any; however, you are very light on units early on since you tech up so quickly and go gas first. This shouldn't be too much of a problem since your Reapers/Hellion should control the map early on and your Cloak Banshees that follow (build at least 2). Although this is a very aggressive build that usually causes a player to be overly passive, you should always play a reactionary game and be mindful of counter attacks. Also, a well-executed proxy 2rax can outright kill any gas first opening, especially this one since you skip the first marine for the faster tech lab.