Has anyone created a template grid overlay for their video cameras?

Similar to what Cycliq has planned for their new Fly12 camera.


I found an Australian website where someone has done it, but it does not provide enough information on how to set it up with the camera, calibration, etc.
(See the post dated Aug 12, 2014 11:35am by "outnabike."

Help/advice would be appreciated.

Thank you.