No idea about the part, but I'm surprised they left opportunities for cost saving on the table.
The one that jumps out at me would be to put the CW and CCW LEDs in antiparallel and use a single 2K2 instead of R1 and R2.
Another hack I've done would be to eliminate R5 and install the "On" LED in place of D2. There's plenty of drop there, and the supply current of the chip is probably about right to light the LED.
I admit to confustion about what Z1 and R3 are doing in the circuit. Connecting the top of the pot to pin 5 suggests that IC1 is not a microcontroller. If it was one with an ADC, the pot would go to +5V, and if it was one without, there would be an external timing capacitor attached to that net, not to pin 2.
Anyway, power/ground are reversed for a 555, correct for an PIC but I can't find one that allows output on pin 4, ATtiny85 has GND on pin 4.
I can find at least one PIC that allows pin 4 to be an output: PIC12F1612 allows pin 4 to be an open-drain output. I suppose you could go through the rest of their 8-pin product line looking for something.