PhotoTranslator: N900 App That Extracts & Translates Text From Images

I’ve just stumbled on an incredible application for the N900 that can translate text from images into various languages. So in a foreign country you can simply take a picture of a boarding/sign/menu, put a box around the text and the application will extract that text and translate it for you.
The knowledge about the existence of this app comes from a video uploaded by CybercomLab on YouTube, this does not look like a community project and my guess is that we should be seeing it on the Ovi Store soon. Here’s the application’s ‘official’ description from the YouTube page:

Imagine yourself walking on a street somewhere in a foreign country and you face a warning sign, but you have no idea what it says. Just take a picture of the sign and open it with PhotoTranslator, crop the text in the sign and PhotoTranslator translates the text to your language. In addition the PhotoTranslator can be used also for translating copy/pasted or typed text, not just for text from pictures.