aside from the fact that this is another tribute to the "i" generation, is seems this could be an app with interesting new features. haven't tested it yet, but maybe worth checking out.
versiontracker says:

* Now can handle sub-applications (such as Flash Projector files or Macromedia Director Projector files)
I think it can make screensavers out of quicktime files and also a folder of pictures.
the website?
have fun