During his Adobe MAX 2006 first day keynote, Kevin Lynch demonstrated a series of Apollo applications, including ones from eBay, MySpace, and VirtualUbiquity. He also demonstrated a new internal Adobe project, codenamed Philo*, that focuses on Internet TV. You can see the bulk of his keynote presentation in the Adobe MAX 2006 Conference Q&A Webcast; the demonstration of Philo starts at exactly 36 minutes.
There’s been lots of great write-ups of Kevin’s keynote in general, and of Philo in particular. One of the best reactions was from Jeremy Geelan at WebDDJ:
…Lynch closed with an Internet TV application being developed in-house at Adobe, called "[Philo]." If anyone had any doubt that Flash video is at the center of the Adobe vision for 2007-8 and beyond, Lynch’s slick demo will have without a doubt showed them that it will be.