I watched the entire video and I still have no idea what it is or does.
It's a powerful (same chip as beaglebone black) ARM computer with WiFi, BLE and ZigBee radios. Runs ubuntu. Everything open source. Almost all Node.JS.
It uses open source drivers to connect to devices and learns how they operate, building a model. If something is out of place, it notifies you and gives you context aware control. For example if nobody is at home and the heater is on, it will alert the last person to leave and give them the option to turn it off.
Key new tech is positioning with little USB powered dongles placed around your house and Leap-motion style (but simpler, no 3d hands) gestures for controlling lights, temp, etc.
Everything the NinjaBlock did, but all built-in (no more dongles for wifi etc).
Hope that clarifies a bit!
They want to get rich and give the world maximal freedom. That's a hard problem.
Right now, no. But it's something everyone wants. The main thing standing in the way at the moment is that the rules engine runs in only the cloud, but we will make it run locally as well. It's just a timing/effort thing.
(and open-source will mean others can work towards it too)
You could have also added a steady cam scene following someone around their home and watching their environment change with them. e.g.
Someone is sitting on the bed reading a book and the nightstand light is on. They get up and move to the door and lighting comes on in the hallway as they walk towards the kitcken lights turn on behind them until they get to the kitchen and get a snack. Then reserve the process until they get back to the bedroom.
This kind of stuff looks like the perfect application for Prolog. There are a lot of predicates to satisfy when determining when a nightlight should be turned on or the overhead light or whether to turn on music in the living room or not.
eg. someone is moving your valuables around, or someone left the heater turned on with no one home.
My guess, from the amount of times they said "trilater-something", is that it uses radio waves and triangulation to figure out where people are in a home/office? Maybe?