What you're seeing is an example of "video projection mapping" - that is, videographic images projected upon a 3-dimensional object - in this case, an actual building - to produce some amazing multi-dimensional effects. This one was created by Apparati Effimeri. (Their Vimeo page can be found here.)
Boingboing recently featured a video projection mapping project from Prague, "600 Years" - by The Macula group. (Their Vimeo page can be found here) You are seriously missing something if you haven't watched it!
For more info and examples, try the Video Mapping Blog.
(Hat-Tip to Boingboing's Xeni Jardin.)