We showed you this video almost 3 months ago, and all the time the mystery remained. Talks of a sophisticated hoax were the main suggestion, but the mystery has finally been solved.
According to xiho on xda-developers.com, the effect is due to how the camera view finder is implemented. The instructions are as follows:
1 – open the camera
2 – minimize
3 – back to maximize
4 – and kill the application camera
Then set a specific png, found in the thread, as the background.
Xiho has simplied the steps by making a mortscript script of the actions involved. The effect is not perfect, as seen in the video above yet, but thats likely to be solved pretty soon.
Read the thread here for all the details and to download the mortscript.