Just an update - while I had originally approached this with the intention of releasing the code as open source my findings regarding....well various aspects of this project, but relevant to this aim, the code itself, means that I'm putting any software development on the back burner for the next few weeks while I perform a study into how people naturally perform gestures. I'm also looking at some options to improve certain show stopping issues with the system (primarily the limited FOV of the webcam).
Any code that does emerge for the project, at least for version 0.1 is unlikely to be very robust but I think that can be overcome : I'm currently thinking that broad colour segmentation followed by some form of object matching technique (e.g. SIFT/SURF) should make quite a robust and reasonably fast algorithm for marker detection however if the FOV problem cant be solved, I actually think that ANY vision based system is inappropriate for this sort of interaction style.
Yes, that's a bit damning, however I am doing HCI research here, not computer vision....and that doesnt mean that I dont have other tricks (literally) up my sleeve :)