Although I don't understand a word, the video is pretty clear. They are INSTANTLY mapping faces and reconstructing make-up and extremem hair-do's. Check it out:
NAB last year we met the chap from and had a good play with their system. The latest demo is even more freaky but what they had 18 months ago was pretty impressive considering it was running on a pretty standard laptop.
A few years before that at IBC I watched a demo system from the BBC that had the talent interacting in real time with CGI dinasours. I guess we'll soon have virtual sets that don't have the old problem of the talent walking through the furniture.