that is very cool and will be great for VR. It also works great with a touchscreen so it could be as an feature in some series/movies to add the ability to look around a bit (I understand that 360 degrees will be pain in the ass for the director there, but maybe 45 degrees?).
well, sadly 3d videos aren't that great in VR. The problem is that you loose all 3D information. So, although you can look around 360° it's still just a flat canvas. And even if you're able to record and recreate the depth, moving your head will break the illusion. I'm sure that some day (stereoscopic) VR videos will work properly but until then only live rendered content is capable of giving you that 'immersion' which everyone is talking about
