Each week Tom Whitwell of Music Thing highlights the best of the new
music gear that's coming out, as well as noteworthy vintage equipment:
Sven König, who designed it, calls it a Realtime-Mind-Music-Video-Re-De-Construction-Machine, and does a great job of explaining the whole system in this video (Also available here on YouTube). First, a source track is chopped into slices, each 1/16th of a beat long. Each slice has it's sound spectrum analysed, and is dropped into a database.