Penpower is showcasing their new iPhone app called the Worldictionary which is an instant translator app. It works by capturing images in real-time using the camera on an iPhone and run them through their OCR software, and then sends the words through Google translator to finish the job. It will also work on already saved photos or you can simply type in words. It seems very useful for the average traveler but it will only work if you have a data connection.
Worldictionary is currently in the App Store for $4.99 and is available for both the iPhone and the iPad. An Android version is currently under development (Word lens gets you pretty close but it doesn't support Traditional Chinese).