[Philip Lelyveld comment: this is deceptive, because the lens allows you to focus on an image projected onto glasses. There is NOT a display in the lens itself. But it is still an interesting approach.]
Instead of oversized virtual reality helmets, digital images are projected onto tiny full-color displays that are very near the eye. These novel contact lenses allow users to focus simultaneously on objects that are close up and far away. This could improve ability to use tiny portable displays while sill interacting with the surrounding environment.
Developed as part of DARPA’s Soldier Centric Imaging via Computational Cameras (SCENICC) program, SCENICC’s objective is to eliminate the ISR capability gap that exists at the individual Soldier level.
See the full story here: http://www.darpa.mil/NewsEvents/Releases/2012/01/31.aspx