WiiDome = Wiimote + MacBook Pro + Dome
If this looks too difficult, just rent out a movie cinema and create your own 344 Inch Wii Theater.
Implications - Personally, I'm not the most technologically inclined person, so seeing a product with this kind of intricate detail and prescient planning is impressive. The success of these University of Western Australia students will no doubt encourage other Universities or groups of friends with tech skills to create their own. I'm ready, willing and able to watch any and all of the resulting creations.