
I would say it's a (very well done) 3D animation - the only thing that gave it away to me was the caustic light effects.
The surface of the water appears to be rippling, yet the caustics (the refracted light dapples on the table) don't seem to change.
Either way - my analysis may be wrong - but he sure as shit didn't do it for real. Apart from anything else - the only thing that could create that effect would be the surface tension of the water, and the fact that it appears to be rippling tells me that it can't be.
I'm willing to bow to superior scientific knowledge however...
( , Wed 16 Feb 2011, 14:44, Reply)

Liquids don't just stay where you put them.
There is some good quality camera tracking there.
( , Wed 16 Feb 2011, 16:43, Reply)

The camera blur effect is very prevalent when doing this type of animation to 'add' a slight extra sense of realism
( , Thu 17 Feb 2011, 0:43, Reply)