http://rpgvault.ign.com/articles/809/809015p1.html
We call our new revolutionary combat mode “Xtreme”. The recent advances in rocket science have allowed our engineers to slow down bullet-time significantly, achieving the above-mentioned and very next-generationy mode. It gives the player enough time to react and do all kinds of cool cinematic things in proper sequence. While to an untrained eye, it may seem that the game is still turn-based, we can assure you that you couldn’t be more wrong, and what you are about to witness in the video accompanying this text is the cutting edge, Xtreme bullet time design of tomorrow.
They should license this technology, it’s so innovative.