We've got something like that at MIT... They've done some pretty cool stuff as well, its not a senior thing though.. just a normal class. The voice controlled chess is pretty cool though. http://web.mit.edu/6.111/www/f2008/index.html

I've had the chance to play with this thing. It is indeed, very cool. Also the API is very good. I know I have several projects going on right now that will benefit from it. They have less to do with video and more to do with audio. Combining this with a WFS or ambisonic array of speakers could be absolutely amazing because audio can be truly 3-dimensional where video at that resolution is currently limited to screens or 3d via glasses.