This is an interesting new technology from Adobe Labs. It allows for the profiling of camera lenses. In Photoshop CS5 and Lightroom, you have the ability to correct for camera “distortion”. Now in the old days, I considered Lens distortion a “visual effect” ! But now a days it seems there is a quest for “perfection”
Now Adobe has the tendency to only speck in terms of their latest & greatest software releases, like CS5. But since they also mention Lightroom & Camera Raw it “may” work with the latest update Photoshop CS4 since Camera Raw and Lightroom share the same Raw conversion engine.
The interesting part of all this is that Adobe is asking its user community to send them their .LCP(lens correction profiles) files that they create.
This is what it does in Photoshop CS5