TIME FOR SUPER NECROOOOOOO
Well, it's 2017 and the LEAP motion software has been upgraded to something called ORION, which makes the tracking a lot more accurate.
But I wouldn't use it for modelling. What I WOULD use it for, is VIEW CONTROL.
Here's my suggestion for how it might work:
With your dominant hand, you hold your stylus/mouse over your model which is telling 3Dcoat (via a hitscan) where the "grasp point" is.
Then with your off-hand, you make a "pinch" or a "closed fist" gesture to grasp the object.
Once the object has been grasped, move and rotate your hand to revolve and move the view around the grasp point in the same manner that you might use a 3D mouse (like the 3dconnexion space navigators that 3D-coat supports)
Except that instead of acting like a joystick that smoothly moves you at a rate based on how hard you push the controller, it acts as though you're floating in zero-gravity and have grabbed an anchor point in space with your hand.
So when you move your hand, your hand doesn't move, but the rest of you does.