So a cross between that thing Philips did recently where they scanned the peripheral colour of whatever was on your TV and projected it around the outer shell of the TV?

This just looks like a 'way more awesome' version. 

Wonder if it is any good for movies?  I'm thinking a tuned down version might enhance the movie watching experience, though most buffs nowadays have a dedicated projector for watching movies so perhaps it would be superfluous?

Those guys in the labs do great work.