I absolutely loved MFK's cantina comic and the above example sure looks cool, as well.
In my older photonovels (no longer available on line....at the moment), I used speech balloons and captions, more similar to a comic book. I enjoyed that style.
But then, inspired by Chewie's great pictures (the movie still format), I switched to that format for my interactive photonovel.
As visually striking as the comic book format is, it suffers from one weakness - the static facial expressions of the figures.
In real comic books, the character's faces are extremely descriptive and evocative. More is conveyed through the art than the dialogue, in most cases.
I went back to doing "text below pictures" in order to make my stories more "novel-esque". Because the visuals are limited, you can make up for those deficiencies with descrptive, well-written text. In my versions, though, the text is part of the picture, not written into the thread.
this is essential for my Interactive story, where I need to convey a lot of information to the reader about the environment and events that are happening.
However, in the future, for straight narrative photonovels (assuming I ever get the time to do any) I may experiment with a hybrid - using limited text blocks when necessary, but also trying to employ the great collage/comic book visual style that MFK and others have done.