Well, sort of. There are an awful lot of really blue pixels at the edges of the bands that 'appear blue' and yellowy-green pixels at the edge of the 'green' bands. No surprise that our low resolution eyes blend those.

The implication is that an aqua color can appear bluer or greener depending whether it's next to orange or pink. This 'illusion' does not demonstrate this.

An honest demonstration would use just the three colors. I bet the effect would be far less dramatic.

It's a fiber optic bundle, for transfering the image on one flat surface to the other, while magnifying (or shrinking) the image.

pantograph up, but no overhead wire??? Photoshop, I guess.