Actually, I have just had an ever better idea, as I have watched Your video and thought this through.
Why not use the camera and the application as Your actual bowsight??? Replace the mechanical sight completely!
Calibrate it for distances, make it multy-dot, or auto-adjust, or make it all manually/digitally adjustable and with a decent quality zoom-lens, dimming, you could have a great bow-sight, that doubles as a bow-camera?
http://cgi.ebay.com/HTC-Touch-HD2-HD...item43a186a2cb
Imagine all of us geezers with diminishing eyesight flocking to the digital age?
:-)