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I don't think it's the same technology, exactly, though it's definitely similar. There's some sort of virtual camera that lets him "shoot" things in the digital world in real-time (or at least, that's what Cameron says). That, and the technology is supposed to be that much better and, I think, mixed with live action at points.
The 3D, as you mention, has been a big selling point. Cameron's said that most 3D films are too gimmicky, and he's convinced that a subtler approach will become the new standard. Who knows.
Anyway, I'm not really worried about the fact that we don't have anything yet...I'm more just intrigued by how unusual that is, and how tightly it's being kept under wraps. ComicCon is in just a couple weeks, though, and I assume the footage shown there will find its way out, either through a leak or some kind of official release. At least, I hope so. When it starts showing up on the web and in theaters, I imagine a lot of moviegoers will start wondering why they hadn't heard of it before.