First footage I've been able to find of the Extra Teleconversion feature from Japan:
http://www.youtube.com/watch?v=iXrH2LkzS0E
He writes about it here (in Japanese):
http://muujp.cocolog-nifty.com/tokyoshashi/2010/11/gh2ex-8ad0.html#more
Unfortunately, he only shot in 720P, 30fps. There's been some ambiguity about whether this feature works in full Cinema mode (1080P, 24fps, 24Mbps) The Panasonic sites & literature I've seen only mentions how it works with 720P & 1080i. So I asked the writer in my fractured Japanese, and I'm waiting for his response. This is a BIG feature, as far as I'm concerned, so I'm trying to get confirmation that it indeed will work at the highest quality mode.
It looks excellent to me - a loss of feather detail on the duck, but that's nit-picking, looks like a great feature.