You are missapplying the term "all optical chip". The Intel invention is still about electrical computing with an optical interface,instead of the traditional electrical interface.
Light is capable of carring millions of gigabits of information per second. However todays electrical modulators of a light source can only switch at several Giga Hz per second, and these electrical control signals are the bottleneck for transmission. (Modern optical fibers carry more data because they transmit several light beams of different wavelengths.) Researchers have dreamt of eliminating the electrical bottleneck by all optical switching, ie by using one light beam to modulate another. In principle such an all optical system could carry millions of GB of information per second on a light beam. Unfortunately no decent optical switching element has been developed.
The Intel development is not about all optical computing. Today the bottleneck in computing is memory access. Acess to DRAM memory takes several hundred clock cycles, because the electrical interchip connection is very slow. On chip speeds are very fast since the capacitive loads are tiny. So a CPU interfacing to memory or other components via an optical fibre would alleviate the memory bottleneck. However this is not an all optical system. The system is still an electrical switching system, but in which certain high speed chip interconnection is accomplished via optical means.
Yes if optical interchip connection becomes viable, computer architecture will change. Today magic mantra of maximizing performance via ever larger on chip cache memory may have to be rethought. Todays slow electrical interface has caused everyone to pack more components on one chip to bypass the slow I/O interface. Optical interface might change that and might bring back the world of large computing mainframes.
