Successively casting Shield to stack up an obscene AC (say in reaction to a series of multi-attack) is just one way this feature seems ripe for abuse.
It may be worth noting that the (O5E) DMG specifically warns against making action economy changes like extra reactions. Quoting from pg. 263: "Beware of adding anything to your game that allows a character to concentrate on more than one effect at a time, use more than one reaction or bonus action per round, or attune to more than three magic items at a time. Rules and game elements that override the rules for concentration, reactions, bonus actions, and magic item attunement can seriously unbalance or overcomplicate your game."
Obviously, the LU designers ignored this guidance in a few cases (Heightened Reflexes, as well as Overclocked Concentration and Duality). I hope they heeded the DMG warning about these changes, thought deeply about the implications and side effects, and hammered hard on them during the playtests...but I think it's more likely these features slipped through the cracks.
The quoted passage indicates that (along with bounded accuracy) the O5E designers view concentration, attunement, and action limits as essential elements of 5E balance. They form a watertight shell that restricts how abilities can interact, and anything that punches a hole in that shell threatens to flood the game with unexpected interactions. Consequently, I personally intend to forbid abilities which alter the core action economy (like Heightened Reflexes). Luckily, all the cases I've found relate to optional (rather than core) class features, so I think they're easy enough to exclude them on a case-by-case basis.