When I saw your project for the first time I guessed this was too good to be true
And I'm reading this on April 1st!
This really sounds great. Personally, I don't know how much I would use it but there are a hell of a lot of people who would love this feature.
Blender is really coming along wonderful. Motion tracking and now this! 2.5 is going to be an insane release.
I wish you guys all the best in your project and commend your attempts at doinf something worthwhile in Blender!
Koba
EDIT: I am so jealous of you guys - 3rd years and actually doing something useful in the world! I'm at Oxford doing physics and it sucks - should have done CS elsewhere.
EDIT2: As you need to do this project for the course and you are unfamiliar with the Blender code, don't be afraid to ask and get help!