Well if there's a student in robotic and/or computer vision, I have a challenge: use an iPhone to do exactly the same think regarding modelling interior of buildings. I'm sure it can be done (well I have just a doubt about having the model in real time). And if you have it, please contact me, I know someone within the firm I'm working with who would be interested.
To come back to the solution introduced here, it's disappointing to see so much technology to do what is done for a while with less. Robots have used LIDAR and cameras to model their environment and locate themselves for a while. Hopefully they want a resolution that only a laser can provide but I think with today's technology we can achieve the same resolution with cameras (according you are not looking for one under a few millimeters).
Just to make my point regarding the fact that only a camera is enough: have a look at the following commercial services I know http://www.arc3d.be/ , http://www.cogent3d.com/index.php?option=com_content&view=article&id=82&Itemid=86 . I had also several papers from academics on the topic. But still nothing from someone creating the 3D model of an interior environment with a Smartphone