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[* black] Here's an inside look at the projector assembly sans the protective cover.
[* red] Light for projecting images is supplied by a very powerful LED (shown in red) that even has its own heat sink to conduct heat to the aluminum front panel.
-[* orange] As light leaves the LED it passes through two prisms (shown in orange).
+[* orange] As light leaves the LED it passes through some filters and lenses (shown in orange).
[* yellow] A good deal of engineered optical reflection allows the light emitted by the LED to reflect through a tiny LCD panel (shown in yellow) and head toward the mirror.
[* blue] Before bouncing off the angled mirror and exiting the camera, the projected image passes through a focusing lens (shown in blue) connected to the slider on the top panel.