The ticket I have is very similar, it is also a rail smart card in exactly the format you describe. In my case though the ticket is not valid in NI.
I might be wrong but as far as I am aware Leap cards are already issued for point to point annual tickets even though one end is outside the Leap card area. Note sure if these have the point to point validity printed on them.
From the Irish Rail web site
Taxsaver Leap Cards
Taxsaver Leap cards are also available through participating organisations in the short hop zone. We have also recently launched Leap Point-Point ie Drogheda-Connolly, Wicklow-Pearse, Sallins-Heuston etc.
I haven't seen any of these point to point Leap tickets. While it might be good to have Leap functionality on point to point tickets it seems daft using a card that is not distinguished in appearance from a standard Leap card. It would certainly provide an opportunity for punters to chance their arm outside the Leap card area. I will try and get a look at one over the next few days.