The idea behind Neokeys' smart keypad is pretty simple. Put tiny LCD screens above a phone's middle 12 keys and sandwich them in between two outer columns that list options and menus.
So each time you choose a particular function, like texting, the middle 12 keys will display commands for that function only. Theoretically it sounds like a good idea, but in reality...
it's nothing that a dual-screen phone couldn't do. On top of that, the dual-screen phone would be icon-driven, as opposed to NeoKeys' text-only interface. Though it's still an interesting concept nonetheless.