>>13
I doubt Euclideon has tackled this yet, but it is possible to animate voxels by passing ray-casts and spatial lookups through an independent transformation rig, similar to how you do portal rendering.
http://bautembach.de/wordpress/?page_id=7
http://www.youtube.com/watch?v=Tl6PE_n6zTk
Also it's obvious that Euclideon is doing dynamic streaming of voxel content from disk. Sparse voxel octrees/Gigavoxels achieve an effective compression rate of 1 bit per voxel, so even in a scene with 20 billion voxels, it's going to take up 2.5GB of data, and then you still need RAM for your frame buffer swap chain and intermediary buffers, dynamic models, shaders, etc. There's nothing wrong with streaming though, it's used a lot in games for traditional polygonal and texture content.
I wouldn't be surprised if they're running this off of a system with SSDs.