I really like seeing applications for image fusion like this. I think we'll see more of them in the future given how cheap HD cameras and FPGA are becoming. There's no reason why I couldn't take an array of cameras with different filters and fuse the outputs together into a single image. It's better than the Preditor-Alien vision (no cycling required)!
Take these guys for instance. They're fusing thermal and visible cameras outputs together in realtime.
How long do you think it will be before all of done on a single sensor die?