I thought the bike bag was pretty cool!
I found their website, seems the bag on the show was a early proto?
www.bee3pod.com
Their new design seems to have solved the problems highlighted, such as your feet hitting the pedals (its smaller) and it has a reusable inner bag, so no carrier bags falling out the sides, makes sense to me?
Think it could be a really good way for carrying large shopping loads as Panniers are tricky to carry, have limited capacity and they are expensive.
If the can sell them quite cheaply, I reckon they could be onto a winner?