I could be wrong on this, but we learned about K-means clustering this year in college, as far as I know, the K random exemplars which you use for K-means clusters obviously reduces the number of colors in the image to a certain N ( N <= K). This would mean that any live manipulation of the K colors would actually only modify the image which consists of only N colors.

The net result would be a live image like you suggest, but one with much less detail. Still very interesting though.