Actually that little 4 page paper has a lot in it that is pretty understandable. Here is the abstract summary. What they mean by "extension" is extension back in time, to before the usual inflation scenario:
http://arxiv.org/abs/1209.1609
A Quantum Gravity Extension of the Inflationary Scenario
Ivan Agullo, Abhay Ashtekar, William Nelson
(Submitted on 7 Sep 2012)
Since the standard inflationary paradigm is based on quantum field theory on classical space-times, it excludes the Planck era. Using techniques from loop quantum gravity, the paradigm is extended to a self-consistent theory from the Planck scale to the onset of slow roll inflation, covering some 11 orders of magnitude in energy density and curvature. This pre-inflationary dynamics also opens a small window for novel effects, e.g. a source for non-Gaussianities, which could extend the reach of cosmological observations to the deep Planck regime of the early universe.
4 pages, 2 figures
Expanding the linear scale by a factor of some 5000 would reduce the energy density by a factor of about 5000
3 which is around 10
11. They say reducing the energy density by some "11 orders of magnitude" which is why I gave a linear scale factor of 5000. It's not a lot, but it's nice the bounce gives you that for free. After that, you need a scalar field which these 3 young European researchers (Andrea Dapor and two friends) say could even just be the Higgs field! The Andrea Dapor paper is
http://arxiv.org/abs/1207.4353
Inflation from non-minimally coupled scalar field in loop quantum cosmology
Michal Artymowski, Andrea Dapor, Tomasz Pawlowski
(Submitted on 18 Jul 2012)
The FRW model with non-minimally coupled massive scalar field has been investigated in LQC framework. Considered form of the potential and coupling allows applications to Higgs driven inflation... Furthermore, for physically viable coupling strength and initial data the subsequent inflation exceeds 60 e-foldings.
14 pages, 5 figures
So it's not all there yet, but a picture is taking shape, and it (and other bounce models) need to be checked against more detailed observation of the CMB ancient light.