We have developed RKT Launcher http://www.gesturekit.com/rkt-launcher/ with a similar concept. Its based on gestureKit SDK http://www.gesturekit.com/ a cross platform gesture recognition tool.

You can find it on the PLAY store here http://bit.ly/1okJIfc and you have the souce code here https://github.com/RoamTouch/app-rktlauncher-android

2015 is the year of the smartwatch technology and we are going to be there.