Tuttle of Hacker Consortium writes,
"[The toy has] 2 Colby 1.5 inch digital key chain picture frames lined up with each lens to create a digital stereoscope [...]. The two new digital screens sit in line with where the original design would have the dual film images sitting.
When you pull the lever, it taps a switch inside the gizmo to progress to the next image. Power is on the top, USB ports on the side. Just plug 'er in load your images and or charge the screens, then you're good to go."
If you're interested in building one yourself (and, naturally, unafraid of voiding the View-Master warranty), rejoice: the creator reports that a step-by-step guide is in the works. Check back for the link.