If you can explain it in ways they can understand then its probably not worth much and if you do explain it they can share it with others.
You're really lucky you have an algo where they can see the effect, leave it like that.
They want a cash flow over time, which means:
1: Patent protection
2: A version 2,3,4,5, read up on Dolby Studios, they started decades ago doing the same thing but for hissy audio tape, still going N versions later on totally different media.
3: Get the word "mobile" in this. VCs are obsessed with mobile currently, I assume this will make phone pictures better ?
4: They want an exit strategy, is this going to be sold to join people's patent armouries or a firm they can float ?
5. Have you talked to Google, this sound like just what they might want for YouTube and to stop others getting it.