Concept: Virtuo LCD palette for digital painters
Often, the hypothetical gadgets imagined by Yanko's collection of design magicians lack a certain creative flair. Not today. Yana Kilmava's idea for a handheld digital LCD palette, linked wirelessly to a Cintiq-style touchscreen "canvas", is a perfect application of fresh technology to an old problem: reality's lack of an "undo" button.
Virtuo looks very similar to the traditional paint pallets used by artists for hundreds of years, with the added bonus of modern technology. There are no wasted paints, no confusing mixing of colors and you don’t have to be an experienced artist to create really beautiful pieces of artwork. Virtuo includes an art pallet, a charger, 5 different art tools and works by electromagnetism so no worry about quick battery loss. Even though it was designed with the inexperienced artist in mind, Virtuo can also be used by the more professional digital artists who are also experienced in the traditional forms of creating art. At the present time, Virtuo is only in concept form, but I can hope that it is made available to the public sometime in the near future.
VIRTUO: A gidital art toolset that helps art novices develop their artistic side [Yanak Limava via Yanko Design]

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Oh, good, that means you can turn that little blob of yellow into a little blob of green.
I still prefer the smell of oils then electric.
er...did all of those colors blend together to make white? Unless that blob of white in the middle has recently been added to the mix...that is not how the colors would mix if it was paint.
Also, it seems like there is still only one color per brush stroke, which is a big drawback to digital painting (in my opinion). Oh man, if they could somehow change that...that would be really great. Though I do agree with #2 that real painting would be preferred.
Nifty idea, but as a graphic artist I see more potential as a toy than as a serious tool. It would be fun to be proven wrong, though.