The demo shows a geek with the ACME Installer mounting the TouchPad to a Mac and then moving some needed files over to the tablet. Once the files are over on the TouchPad, the files can be executed. To do this they create a folder called cminstall, copy a zip file over, and use the novacom program to start the ACME installer.
It doesn’t take that long to get Cyanogen 7 running on the tablet and you can swap back to WebOS whenever you want. The addition of the new OS needs only three files including the ACME installer, novacom, and cm-update payload file. The video points out that the demo doesn’t mean the ACME installer is close to release though. The Cyanogenmod was benchmarked not long ago.
Thanks for the tip Tony.