How exactly Trioxide would accomplish this feat was not addressed in the now-removed documentation, which was partially preserved at NeoGAF. Of the three major systems on the market, only the Wii's controllers do not use USB plugs.
Two price points were listed, $49 and $299, suggesting that there may be some sort of hardware component to Trioxide, such as a capture card for display input.
Keep in mind, this information comes from a marketing research firm, so it could merely represent a product concept, not one that is currently in production. Read on for more details, including the Intellisponse-supplied product description.
Introducing the ability to play the latest console games (i.e. Xbox 360, PS3, Wii, etc.) on your PC. Many of these games are only available on consoles today and with this new feature would now be available on the PC as well. With this new feature those console games are now playable on your PC!
Uses the same game controllers as the original console system (all games use regular console controllers, not your computer keyboard or mouse.)
While Intellisponse has a number of high-profile clients, including Microsoft and Activision, it is not known which company comissioned the Trioxide research. As the system seemingly allows compatibility with multiple consoles, it is not likely to be backed from any of the three major console makers.