The idea is that as you type search terms into the box, you’re given real-time search results from Twitter. Overall, it works pretty well, but there are some issues.
For instance, typing in “thenextw”, in starting a search for “thenextweb” should start pulling results from our tweets. However, it doesn’t, until you finish the string completely. Granted, once you’ve typed in “thenextweb” completely, the results are indeed instant. But it isn’t quite on par with how Google Instant or YouTube Instant worked.
Regardless, if the project stays up, it’s a great alternative to Twitter’s search page. Give it a try and let us know what you find. One big advantage? Twitter Instant works from mobile browsers.