The peice isn’t very informative. It looks like it’s just a normal projector being reflected off some sort of sheet of humidity or something. (Sorry—regular air isn’t reflective.) The movies shown on a flat “screen” of water look MUCH better than this. Also, looks like this only works in a darkened room. I’ll bet I could come up with something that works at least as good for $20K.
I have to admit, the interactive thing they mentioned at the end is pretty amazing (if it wasn’t faked).
The link starts to open a movie clip for me without any problems. But then, I only tried to see if it would start to open, not to actually try opening the entire thing (otherwise I’d still be waiting as it was opening the first megabyte sometime this upcoming weekend).