The
IGN Revolution FAQ suggests that this is just an alleged reproduction from memory of a sketch at Nintendo had in an internal paper, not a pic from a patent. I did a
patent search for stuff from Nintendo including the word "holographic" but couldn't find it. It could still be in a patent somewhere, but my impression is that it wasn't anything more than (at worst) a hoax or (at best) a doodle that somebody brought up at a meeting as a vague idea which had no actual technology necessarily backing it up. Anyway, the rumour containing the sketch came with attached papers declaring the new name of Revolution as the "Nintendo 21" and that it has pressure-sensitive controllers (I remember that part of the rumour being very popular at the time).
...and now we finally have a pressure-sensitive controller ... sort of.
And that '05 rumour also had the system acting as a wireless hub to communicate with other systems, which is once again a rumour that I'm seeing floating about (for this there actually is now a patent, I recall).