Looks interesting. Adobe is entering the 3D world.
They’ve been there for a while now. Photoshop has had 3d model import capabilities for some time, though not the best implementation of it. After Effects has been pretty good with 3d stuff since the Element 3D plug-in from the video copilot crew. This seems like they took what worked with Element3D and moved that into Photoshop.
Also has been discussed here:
http://forums.chaosgroup.com/showthread.php?90854-Adobe-s-Project-Felix-Uses-V-Ray&highlight=felix