Claudio, Stella e Farfalla by Jay Mark Johnson. 

From Design Boom:

specially built slit camera that emphasizes time over space.motion manifested as a moving car, a dancer or crashing waves is translated into sweeping bands of color as the movement passes by the camera.similar to an EKG showing sequential heartbeats, an object is registered by the rate of movement as opposed to distance or size so thatviewing the image from the left side is effectively viewing backward in time. the project began when johnson purchased an $85,000 rotating slit-scan camera for high-resolution panoramas and noticed the accidental peculiar effects the device was capable of,from this he tested stopping the rotation and focusing in on one small area.