...or at least, it looks like it is.
The Most Amazing Physics Demo yet
I couldn't figure out a way to embed them, but the fire one's at the bottom. The others are all astounding as well; I have no idea how far off we are from these being implemented in real-time games, but I'm looking forward to it.
And to having to pay for a specific physics chip to make it function, but hey, them's the breaks.