Ive seen this some time ago, one of your teachers showed it to me - very nice work man!
I have a few questions for you:
-How big can you make the world, technically speaking. Would the performance and data storage overhead support worlds with several km length width?
-Can worlds be saved and used as actual playable level for a game then?
-Does the thing support close-ups? How detailed are assets and would the thing hold up if you have a first person player walking around down there?
-Are you planning on expanding on this? Maybe add an algorithm similar to minecraft that also produces different weather zones like deserts, canyons, jungles, grasslands (like you already have), seas, lakes, oceans, rivers, forests etc. ?
-Have you considered teaming with people like this dude? The Eden Project - Work in Progress - Unreal Engine Forums Your two projects combined would make for some awesome results im sure!
Really good work man, keep it rolling.