Innovative is not always user-friendly. For instance when you first open up Chrome, the address appears in that box. But no where does it say you can use it as search box.
Even if you click your cursor into the address box, it lets you edit the address. Not until you delete the entire contents can you actually use it as a search box. Very annoying. There should be at the very least a "clear" type button to delete the address from the box so you can do a search.
Maybe there is a reason why it has not been done before... As it is now, I think it is a good idea that was poorly implemented.