That cloaking technology........we already have prototypes!
Don't know if this has been mentioned yet, but it was a year or two ago that this was in the mainstream news. It's a cloak that, IIRC, uses cameras to take pictures from one side, and display them on the other side, effectively making the wearer invisible.
Of course, the prototype is just a basic demo, and nothing that would fool anyone.....yet. But if they can make you invisible with camera/display work, then they could also do what was done in this film, and display whatever they want on the cloak.
Fascinating stuff!
Here's one link for those who haven't heard: http://news.bbc.co.uk/2/hi/technology/3791795.stm
Won't be too much longer and the Star Trek writers will be hard pressed to come up with zany tech that you can't buy at Walmart for $19.95.