Well, they call it a knock, but cool all the same.  The app is called Knocking and it lets you share live video between two iphones.  Soon with Android.  I do not have this installed, but from the demo video, its seems pretty good.  As you would expect, the frame rate is low and the quality suffers a bit from the compression, but its still pretty good.  The idea that one person can shoot video while the other watches is quite geeky…  Now I’m not fully sure of the value if it when I can do basically the same thing using Qik or other live video broadcasting and not only share to multiple people but also have it stored for later viewing.  I guess since this is in the App store and you do not have to be jailbroken is the win here. Pretty cool though.  Check out the video.