I'm not sure what the hoopla is about that talk. Sure its a bit interesting, but not in a commercial form anytime soon. I'm not sure I want to be always walking around with a camera and projector hanging on my neck!!
A lot of the things in the video are already available in other (more convenient?) forms today.
* In the last Proto.in, a company TouchMagix presented where they did a demo of their gesture recognition product. Check out the video here - http://www.touchmagix.com/ This is already commercial and in the market.
* There are apps for mobiles which allow you to snap a photo using the camera phone of the ISBN number and they connect to Internet and tell you the amazon rating for the book. Already available today using existing technology. Similar thing can be done to tell you the status of your flight etc etc.
* Looking up a map on the phone is a lot more convenient than finding a blank wall and looking at a shaky low contrast, low resolution projection.
Its a nice technology demo, but seems like a classic academic project that doesnt know what problem it is solving. Thats the difference between an academician and an entrepreneur!