One of the very interesting new features that Apple has added to iBooks 1.3 is support for Media Overlays as specified in the EPUB3 spec. According to Lawrence Furnival, it works with Fixed Layout EPUBs using SMIL files that link the audio to the text, using a timeline and CSS to highlight particular words as they are spoken. It's pretty exciting.
More info on pigsgourdsandwikis.com as it becomes available.
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