The way it works, generally speaking, is that the screen deflects images into your left and right eyes, as the camera syncs with the project system to make sure the proper images arrive at the proper eyeballs.
From a feature standpoint, what's cool about the system - which is similar to other patents, with respect to the 3D desktop interface - is that it customises the imagery to each individual in a group, so people can do stuff together. Like Project Natal, on 3D steroids.
Mercifully, it is not described as magical. [AppleInsider]