That's badass. I wondered about whether the machine would need constant calibration due to the belts slipping or hopping a gear, etc. I really dig solutions to problems like this.. I'm not sure how I'd categorize them, I suppose solutions that involve observing reality as directly as possible instead of relying on too many layers of abstraction.
EDIT: I guess now I'm curious... probably this is fast enough that you can literally scroll until you see the right color. I wonder if that's what's happening or if there's still an attempt to remember where on the belt it's located and make an attempt to take the fastest path there. It'd only be faster half the time though. I wonder if the overall experience would differ much.