I would consider these glimpses of an alpha version. Note however the second video with Chinese character recognition. We can’t see the degree of accuracy there. But I imagine it is very high since this app apparently originates there. Getting it right for our simple alphabet should not be hard work.
If you click on the Colligan link, you’ll see why I specifically named him. Do I think he cares about this? Frankly, I think Colligan is so frikkin clueless people have to tell him the day of the week!
The technology behind this might very well be violating a patent or two. I don’t know the company behind the software, but I think such a problem could be solved by purchasing whatever license is required. Failing that, this will probably be the most-popular “dark” application for the iPhone (that is, one not found on the App Store, requiring jailbreaking or other means to install).