Now that their site is up I can finally take a look.
The world itself is real, but the photos presented here are bullshots. Minecraft's lighting engine doesn't look anything like that, and it doesn't have and kind of shading or post-processing to speak of.
http://www.youtube.com/watch?v=sUdLSyR3jAY
So the images are exaggerated and it doesn't look nearly that good in action, but that shouldn't take away from the fact that the world/structures are nothing short of stupidly awesome. I don't even want to guess how much work went into all of that; that's commitment right there.
