The all-over pattern in slipped stitches looks like woven, hence the name basketwork. The stitch pattern is worked on the heel flap as well. These socks are knit toe-up and feature a heel flap and gusset for good fit, because due to the nature of the stitch pattern, the socks have a little less elasticity than knitted in different stitch patterns. Foot length and leg length are easy to adjust.
The stitch patter works very well with variegated yarns, although it doesn't mean there won't be any pooling at all, since this always depends on the lenght of each colour used in the yarn.
Also, the pattern is quite a 'yarn eater', so if you are knitting for really large feet, you might want to have a second skein of yarn or work the toes and cuffs in a different colour. Alternatively you can adjust the leg lenght - that's one of the biggest advantages of toe-up socks: Just finish the first sock when half of the yarn has been used and you are good for the second sock.
My prototype when working on the pattern was knitted in Posh Yarn Martha and in this picture you can see that ther are areas where certain colours 'meet' and start to pool. But it doesn't spoil the nice look, don't you think?