How us20120249774 is patentable?
It just looks like structured light + 6DoF pose estimation.
Besides being obvious, this video uploaded on Mar 31, 2011 pre-dates the application.
It looks like this is the inverse of a normal structured light application. Structured light is usually used to determine unknown 3d shapes from a fixed point. This application uses a pattern of light on a known 3d shape to determine the location of the light and camera. The claims in this application all require a known cone or cylinder to be in the room. The light on that known structure is used to figure out the location of the camera or light source. Ultimately the application is for stabilizing the flight of an aerial vehicle.
I'm not sure what the video is showing but I do not see a fixed, known cone or cylinder anywhere.
Also obviousness is determined as of the date of the application. "Seems obvious now" is not the proper test. The question is "in light of everything known as of the day before the application, and prior to reading this application, was this obvious". It is very hard to put yourself where you would have been before having read something.