I just uploaded a video that shows the current state of Plasma Active on Nexus 7. In this video different things are shown:

The Plasma Active GUI

Hardware-accelerated Video Playback (1080p)

Emumaster (an emulator for gaming consoles like SNES etc.)

Bluetooth support (with an Zeemote remote control)

Remote control with QZeeControl and an Zeemote remote control

3D Hardware Acceleration

Given the native resolution of the Nexus 7, using a video with 1080p admittedly is pointless. However, I wanted to demonstrate that the hardware is capable of playing even 1080p pretty smoothly.