I need to start off by saying this isn't one of those crap marketing blogs to get you to buy something. The developers have already reached their crowd source funding target so don't need your pocket money.
But this is such a good idea. You can use any standard webcam to animate your expressions and voice over. Even applying voice effects to add to a character. My favourite mode is karaoke metal like in this picture:
You can also edit the background and create films. Imagine what a creative classroom teacher could do with this. This would be awesome in the hands of an arsed faced youtube comedian. Personally I would rather watch the six o'clock news presented by a demon or a fox than Hugh Edwards any day.
Check out the launch video here for a full demonstration. Bit annoying for the first 30 seconds but it soon starts to show off.