Yes that's the engine. We don't have a car at the moment but only work for 2 weeks in every 6. In those 4 weeks off work we we're planning on going exploring on minibreaks using the car. I'm not sure if it's worth it but the alternative is the normal 1 liter engine. I can see it might be worth having the extra excelerating power but am unsure.
Is it the Ecoboost engine? I've heard a lot about it, Ford have been making a big deal about it, but I don't have any knowledge or experience of how it drives.
If it's worth it depends on your mileage to some extent - you can buy a lot of petrol for £1400. If you tend to keep cars for a significant amount of time (which is the best plan, financially) then you will realise fuel economy benefits. If the engine is as good as Ford is telling us, the car may retain more of its value when you come to sell/part ex.
What is the price difference between that and your alternative, and what are the advertised advantages?
Be aware that MPG figures are comparative only and are highly unlikely to be representative of reality, and some 'eco' models need to have specific tyres (with low rolling resistance) to see MPG benefits - these tyres are usually more expensive, so eat into any perceived savings.