Hi,
Interesting indeed. I do a lot of 3D CGI work for my job (real-time graphics though), and have come across the Spheron before.
It is typically used to generate a spherical HDR file, either in a panoramic or spherical format (like a fish-eye lens). Typical 3D software can then use these HDR files as an environmental light-source, providing very realistic shading calculations on CGI 3D objects. THis process is often referred to as Image Based Lighting (IBL).
I think their camera capture a 50mpix image covering 360 x 180 degrees - an interesting alternative to traditional wide-angle photography, particularly if you are a fan of Asher's advice of shooting wide and giving yourself some cropping room!
Thanks for posting,