I actually read about this on a listserv. (Yes I said listserv) Schools are having a problem with students using this application to "control" teachers computers. This would be annoying in the hands of a student, however what a great way to remotely control your computer during a presentation. It not only works as a mouse but click on the keyboard icon inside the app and you can actually type from your iPhone/iTouch.
I cant wait to woo my next audience. It also makes a very inexpensive write tablet plus you get an iTouch for free.
For more information go to the Logitech website