This is just speculation on my part, but it looks like there is a single native app (the "Master App"), rather than a different app for each sensor application. The video mentions "not having to download any ADDITIONAL apps". I think that means beyond the "Master App".
My guess is that the BLE device includes a characteristic/service that describes the user interface and modes of interaction ("the app resides on the Simblee device"). The Master App will probably download this description on each connection and allow users to open the appropriate user interface (the "generating apps on the fly" part). (Maybe it caches apps rather than downloading on every connection...)
Other questions: How is the 3ms latency achieved? Does this still use Nordic parts? If so, is it using a different SoftRadio to allow more advanced applications (many-to-many connections)?
I guess we'll have to wait-and-see...(Unless someone at RF Digital wants so share some early samples