http://www.kesiev.com/akihabara/demo/game-tlol.html

I came across this recently:
http://code.google.com/p/touhoujs/

It's just a very early demo, but I like the idea and I hope it goes somewhere. Unfortunately, it looks like it hasn't been updated in a long time.

>>2
Veerrrry cool, though all moving objects flicker in and out.