Never heard of it.
Going on
http://en.wikipedia.org/wiki/Calycanthus, I see its native range spans from Pennsylvania to Florida, so in principle it should be hardy enough to withstand Mediterranean chills but also able to cope with hot summers. One wonders, however, how it would cope with the summer drought and sub-Floridian humidity; might need irrigation at least until established. Considering the native latitudinal range, provenance of the seed could affect how well it does in the Med.
I note its strong smell of camphor (op. cit.).
I have seen Cinnamomum camphora (camphor tree) for sale in Cyprus. The trees were vigorous and healthy (in big pots in the nursery). I was suprised to see them and to see them doing so well. It is a native of Taiwan, S. Japan, SE. China and Indochina, but has naturalized in parts of the USA (Alabama, California, Florida, Georgia, Hawaii, Louisiana, Mississippi, N. Carolina, Texas, S. Carolina); in Florida it is a category I invasive species. In Australia, it is a noxious weed in Queensland and NSW.
Of course, having camphor in common is a trivial basis for comparison, but if Cinnamomum camphora manages to grow OK in Cyprus (and I have seen it only in the nursery, which is not a great guide), I would think the chances are that Calycanthus floridus might do OK, too.
