I love their games, even if the learning curve looks somewhat like a cliff...
It's important to realize though, that they're publishers and well as developers. Of the five games that are listed for 2010 release on their wikipedia page, only Victoria 2, and perhaps Magna Mundi are actually developed by Paradox themselves (I say perhaps for Magna, since there's nothing on their website, and I can't imagine it's going be released in 2010).
The games that they're best known for developing are the Europa Universalis series, Hearts of Iron series and games like Victoria and Crusader Kings that fit into the same universe. They're all grand strategy games with huge amounts of detail - and they've all got Mac ports as well!
I doubt we are seeing anything new here. I assume they just use the accelerometers to determine how much they should crop away from the current sample, and then in the end stitch everything together.
It doesn't do anything like that - what you're talking about is a form of image stabilization where each frame is sharp, but the frames move slightly compared to the frame before and after since the camera is moving slightly.
This is about deblurring by working out how the camera moved while the picture was being taken and then reversing that effect back out, which isn't very simple at all.
Think about a picture of black circle on a white background. Then apply a directional blur to it. Now work out how to get from that blurred photo back to the original. By knowing how the camera moved while the picture was being taken you now know the direction of the blur, which makes the problem a lot simpler, but it's still pretty hard to try to get to the unblurred version while losing as little data from the picture as possible.