There is evidence that primitive Homo erectus were present in the Caucasus Mountains by 1.85 million years ago. And there was an article just last week saying that an Acheulian handaxe of the type associated with H.erecus has been found near Lake Turkana in Kenya and dated at 1.76 MY. (
http://popular-archaeology.com/issue/june-2011/article/early-humans-made-stone-handaxes-earlier-than-previously-thought-study-says)
The article cited in the OP says, "Whereas original estimates had put the age of the remains at somewhere between 1.78 and 1.95 million years old, the new analysis has narrowed this window of uncertainty to just 3,000 years. The new age is now between 1.977 and 1.98 million years old. The refined dating is important, says the team, because it puts A. sediba deep enough in time to be a realistic ancestor to H. erectus."
Realistic? Hardly. On one side, you have a tiny-brained pre-human with some semi-modern characteristics in its hands, feet, and pelvis -- but also "powerful muscles for grasping, suggesting A. sediba spent a lot of time clambering through the branches of trees" and "a distinctive type of walk when the creature was not climbing in trees." And on the other, you have H. erectus, which was almost modern in its anatomy from the neck down, fully ground-dwelling, and capable of making relatively sophisticated tools. And they want us to believe that it was possible to get from one to the other -- and from South Africa to the Caucasus -- in just over 100,000 years?
I think it's more likely that once the Australopithecines had become bipedal when on the ground, there was a general evolutionary tendency to refine the ability to walk erect and use the hands for new tasks. But A. sediba is in the wrong time and the wrong place to be a plausible candidate for the next step.