Ok, I've done some more research and I've found one program that does it!
It's called "Impression: eyes" (impressioneyes) from utilheaven.com
I've downloaded the shareware version and it works incredibly well, I love it. (registration is only 3.99 anyway).
I'd never seen anything like it before. It's awesome! Now, what do I use it for? basically, sometimes I make small video files using some screen video capture on my computer, and this is a really dirty simple way to add interesting stuff, like call outs, etc. since the image can be dragged around. Really cool.