This tutorial was recorded to explain, in laymen's terms, just how easy it is to create Apple's "bounce scroll".
In fact, two core lines of code are responsible for the behavior. (Multiplying by negative one reverses direction. Multiplying by a fraction slows the animation down to a stop.) These are lines of code that have been in wide use for the last 40 years in thousands of games, applications and easing libraries for use in graphical interfaces on many types of devices.
I encourage you to go through the tutorial yourself to make up your own mind on whether this "innovation" deserves a patent. I explain step by step what it takes to create the effect. I am sure you will find it very simple indeed. Unfortunately, the USPTO has already made this decision for you... so it doesn't matter what we think! Apple now owns one of the most lucrative two lines of code to effects you've seen over and over for years.
If you want to try the code out yourself, here is the source file so you can play for yourself! BUT I would only use it at your own risk... Apple could sue you next!
FLA (For Flash CS5 and above)