I'm pretty sure he's talking about the one from our local boy (well my local) Zack. Time's Out or Time's Up or Out of Time (something like that) is the title I believe. He uses a bunch of nifty compositing.
skrott,
I believe he uses a locked off camera. So what you can do in that case is shoot the scene twice. Shoot it once with the person/item that is going to be frozen. Then shoot it again with the moving people. With the frozen shot, you can matte/rotoscope the person/item and use that as your top video layer. Then play the actors moving shot as your base video layer. And with the frozen stuff, you can do subtle moves and such to it using keyframing (which he did when the box gets pushed or the bike moves). The only thing I wasn't 100% sure on is how he did the hangers in the first scene. I have a few ideas, but only saw it the 1 time so didn't really sit down and try to break it down.
Did you mean that as a question? If so, then yes you can do it in FCP. It would not be easy, as FCP doesn't really have rotoscoping tools. But you could use multiple mattes (at least I think it would take more then 1 matte to do a person). You would need a lot of patience and effort, but it could be done. I haven't seen him post in a while, but the guy I would think would know a good deal about it would be BenB. He's quite up on a lot FCPs effects and often on this forum been a proponent of a lot of effects type of things you can accomplish natively inside of FCP.