Dan Goldman is an old friend of mine from ILM. He now works for Adobe's top-secret God Dammit Put This In A Product Now division.
This demo illustrates our research to bring interactivity to video editing: Our system analyzes videos using computer vision techniques, enabling interactive annotation, browsing, and even drag-and-drop composition of new still images using video footage.
This is a joint research project of Adobe and the University of Washington.
Its no Cartoon effect, but it's got promise.