Reminds me of the Amiga Video Toaster
I think it was by Newtek, they made a mac Version, but instead of finding a way to make it work with the Mac, they just hooked up an Amiga 2000 with the Video Toaster card in it to the Macintosh via a SCSI port or something. :)
[link|http://pub75.ezboard.com/bantiiwethey|
New and improved, Chicken Delvits!]