Check out the intro video on YouTube: Introducing Word Lens. I'm a software developer and have a generally well honed sense for what a hoax is. This sort of thing is hypothetically possible with today's technology - the major problem being pattern recognition within the image at that kind of speed ("What being captured by the lens is text?"). This'll be an amazing tool if it's the real deal. Here's Word Lens in iTunes if anyone wants to download it and try it out.