Monkeylectric has been making things to make pictures in bicycle wheels for a while.
Its Monkey Light gadgets involve a strip of RGB leds that mount in the wheel radially.
Flashing the leds as the wheel rotates makes a picture appear – a sort of circular raster-scan.
Anyway, its latest offering is the Kickstarter-funded Monkey Light Pro which has four strips of LEDs – 256 in total, which I am guessing are interlaced by being as slightly different distances from the wheel centre, to make higher resolution in-wheel pictures.
And, you can download your own pictures and movies.
They are not at all cheap – but SO cool.