I can't see any shifter pods, so my guess is the same as 2manybikes: it's a custom CVT. If I remember correctly, Honda played around with a CVT for a while on their DH bike, but switched to a slightly more conventional system (basically like normal but enclosed). This looks like quite a bit of effort was made at quite a bit of cost, both in terms of dollars and efficiency. Besides, who worries about shifting that much in a dirt jumping bike (my best guess as to what it's for)?
Ugliness aside, seriously check out the way the transmission is mounted. This guy spent hours machining those profiles to mount the bearings in. That part, at least, is pretty sweet.
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