The color matching is easy. It's not using the same fonts, and pretty obviously stretching the text to take up the approximate amount of line space - also easy. Don't be too quick to judge! :)
The only thing I noticed is that it translates the text to all caps, and the slides were all caps, so you didn't notice anything in the video. But that's really not material; to obsess over that is missing the point that it translates text in real time between human languages using a camera.
It’s also free (not the translation part but the word recognition and replacement part) so there is no excuse to not try it out yourself or getting a friend to try it out for you (should you lack an iPhone).
Would like to see what it really does.