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Also, note that each pixel is either on or off. There is no half state. The proposal appears to be to have each addressable pixel divided into many sub-pixels, and dither spatially. This may well work, but means that there are even more moving parts.
Since they use interference to select the colour, I would expect that the colour you see is dependent on the angle you view at, with lower angles leading to colours getting redder - simply because the effective distance between the plates gets longer away from perpendicular. But LCDs do that to some degree too, so maybe it isn't a problem...
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