This is the LED product from Philips for Domestic home application.
Essentially it is a very simply lighting device but is one of those gadgets that reaches a wide audience.
The idea behind this device is that it allows you to pick from a host of colours that compliments your mood creating a custom ambiance in which ever room you have it in. The Colour generation is immaginative and there can have many colour that you have never seen can be generated by a hand held remote control.
I beleive that is lit up by Luxeons LED from Lumileds