Scott-
The tabata interval is simply a work rest interval which I guess one could apply to the hindu squats.
I feel that the weight through the heels, butt back squats which crossfit recomends (and is generally is used in tabata intervals) is more athletic and distributes the load over more musculature.
The hindu squats as they are generally practiced become a very long duration, low intensity endeavor which looses adaptive stimulus very quickly. Check out this link:
http://home.hia.no/~stephens/timecors.htm
Give the free crossFit journal and foundations page a read as well.
Robb