Wow, that ReLight video is some scifi photography...
It does look pretty slick. Again, in real world conditions, I'm not sure of the practicality. Take the example of a room lit with windows and artificial sources. Even with the interior room lights on, there are going to be dark, underexposed areas picked up by the sensor that our eye/brain combination compensates for. While the intensity (exposure) of the various light sources can be adjusted with the Relight feature, there is a limit. If you expose for the light sources and place them at the limit of your exposure, pushing them up further will lead to them being blown out. In the example shown in their video of the light over the kitchen range, it's a shot of a limited area. You can see the problem though to the left of the stove which is dark. There just aren't enough lights, typically, in place to sufficiently illuminate. Plus, if the photographer has to run around turning lights on and off for different shots (in a discussion with the developer at Oloneo he says it can be done with two shots in most cases but I can't confirm or refute that), it's additional time spent on the shoot and time is money. If the client is paying by the hour, the client's cost goes up and the client isn't happy. If the client is paying a flat rate, the photog's hourly rate goes down and the photog isn't happy.
As I said, great idea, great concept and without a shadow of a doubt an incredible bit of programming; but not sure how useful. Maybe my thought will change after I try it out but at the moment, I'm skeptical.