That bit at the end - super awesome.
That's what I think we're seeing in the partial frames above, then the bright square is the over exposed actual flash we see with the eye.
I'm interested that his camera appears to process columns by rows, not rows by columns, I would have expected the latter to be a more efficient use of memory bandwidth in a time critical system.
We did a robot/radio controlled car last year with a camera on it, but my job was infrared, motors and weapons.
edit: derp, he's holding it portrait, it does do rows by columns.