Somewhere on their site you can see a diagram of what they are doing. The quantum dot film just lays over the circuit and then filters stack on it like normal. Mostly what they are doing is moving the sensel wires to a lower layer but apparently the film is twice as efficient at collecting light than current cmos tech.
edit: see here http://invisageinc.com/staging/img/sb_QuantumTechnology.png
Aha--thanks, Eric. They do answer my color question in that diagram you linked to.
I'm not nano-technologist--I am a believer in the adage that "extraordinary claims require extraordinary proof", and a somewhat vague announcement of a 4x improvement over all current CMOS technology AND a cost reduction to boot just seems like it could be too good to be true.
More detailed substantiation would certainly help with my sketicism... This stuff is supposed to be in mobile phones later this year. I AM quite familiar with hardware development cycles of consumer electronics, and it is hard to see how they plan to do this, unless they had chips in the hands of the designers a year ago.
Anyway nothing is impossible (merely improbable!), so we'll see.
I hope they deliver, though--I would love even better SNR and cheaper, easier-to-manufacture sensors!