Update: here is my version of the stove instructions: http://www.instructables.com/id/Ultralight-Backpacking-Stove-Only-38oz-video-d/
I have seen similar things like this done before. The beer can pot is an old one, but a good one. It is usually done with a 24oz. Heinecken keg can. I made a heiny-pot a couple years ago and I have used it a lot, it is just over sized for most of what I do. Most of the meals I make take only 1 or 2 cups of boiling water. The heiny-pot is twice as large as needed. I was initially reluctant to use a fosters can because they are so much more flimsy, but I thought if I could make it a double wall construction, it might work.
As far as the container for the boiling pot, I have seen this done with the heiny-pots too. the only difference is the size. i think the first time I saw this was on an ultralight forum by a person with the handle "Skidsteer"
You can also get a very similar set up from a guy named Tinny. He runs a great site called http://www.minibulldesign.com
The pot stand in the video is just something I threw together to shoot the video, the final pot stand will be documented soon.