What takes 33 colorful LEDs, bolts them onto a spinning disc and affixes it all to a projector? Lightcast does, and doesn't care that its main audience will be stoners and ecstasy addicts. (You know who you are.) It works in conjunction with an audio source, including your oh-so-trendy MP3 player, then spins, pulsates and induces seizures by displaying elaborate patterns on walls, ceilings and whatnot.
OK, so this may not have what you might call, oh, I don't know, any real, practical value (what does nowadays?), but come on, spinning LEDs? That's innovation right there. Now throw on some Cosmic Gate, grab a bottle of water and enjoy the show.