I have some skepticism about the mechanism. If ethylene is produced, the reaction can be catalytic in TMSI as the HI released could regenerate TMSI, the phosphoric acid, and ethylene. As Babcock has pointed out, the bissilylated acetamide is a catalyst for the silylation step, just as dimethylaminopyridine is a catalyst for an acylation transfer. I had believed iodide dealkylated the silyl-oxonium phosphate to give a silyl ester and ethyl iodide and thus consuming the iodide. As a base, chloride or imidazole would be better, especially if ethylene were being produced.