I've made this at least a dozen times, and it's our favorite wing recipe. I've also used the ingredients and a modified technique on legs and thighs, also great. Depending on the amount of water you add and how you define "moderately high" heat, the sauce could take longer to reduce, but it does. Once when I lost my focus and added too much water I evacuated the wings, boiled down the sauce until it was about right, then put the wings back to coat.
Not good at all, sauce eventually thickened. Anise flavor was overpowering. Waste of time and chicken wings.
FYI - On some links on the website, you have this recipe listed as a slow-cooker recipe.