I did read it, and I thought that it was both fun and clever. I have always been a big fan of greek mythology but thought that there weren't enough strong female characters. The author does a good job of creating a female Homer who both stands on her own and balances Telemachus.
Whilst translating the Odyssey, Samuel Butler was impressed by the number of females in it who had important roles (Athene, Circe, Calypso, Nausicaa, Penelope) and who he felt were fully developed characters. He was convinced that only a woman could have done this, and he published his theory 'The Authoress of the Odyssey' in 1897. This was decades before women's lib and feminist research. It was not very well received by his peers, but it was never forgotten; Robert Graves producing a popular novel 'Homer's daughter' in 1955 based on the idea.
Interesting. Butler's conclusions seem to be more a reflection of the times in which he lived than those in which Homer lived. Regardless, Telemachus and Homer is a fun read, and I can easily see it being used as the basis for a movie one day.
Butler's conclusion were quite ahead of his times. The idea that a woman might have written a work that had such a lasting and far reaching effect on Western culture was quite startling to most of his peers. Even 21st Century readers hesitate and see it as a clever fictional re-invention, as opposed to a serious and possible suggestion.