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The amount of markup and scripting that would need to be added to the text on a sentence-by-sentence basis is prodigious. Formatting an individual book to make use of this would take weeks and cost thousands or tens of thousands.
The eye-tracking tech may make the interaction a little more fluid, but the rest of it is pretty standard stuff and could be done without any fancy hardware on the web right now. It's not done simply because it would be astronomically costly.
In a nutshell: cool tech demo of a solution looking for a problem.
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