The light is intended to operate from alkaline batteries to reduce the total cost. It can be programmed via USB, whether to load images or to change the programmed operation. Operating modes include acceleromer, whch is great for operating by hand, inductive sensor, for using a metal object as a trigger (such as on a bike), or reed switch, such as for pendulums.
We also made an open source image converter to convert bitmaps to files for the hardware. Novice users can easily change the image, and expert users can change everything about the operation, if desired. The first image in the thumbnails is "8 bit plumber", generated using our converter software.
Well, I took a look! Nice, think our guy might have some tips to pick up from you. How much was a completed unit, then? Or how much would it be if you were making 500 of them?
A UV LED is nice, IR remote is nice (though with 3 buttons?), colour sensor, all that... But that's more for a gadget you'd make and own yourself. People will tend to buy things to do those jobs separately. I'd stick to a product that does one thing, and costs less, if you're selling 500. Even though yep it is a cool toy!