I saw this show back when it was at the Battersea Arts Centre and it was wonderful! However, in that small room, the audience sat above the performers and could see both the "output" screen and at the same time see how it was done. In a theatre setting, this didn't work so well - with a raised stage, and the performers at the front of the stage, big chunks of the front rows became Restricted View seats (although not marked as such), making it difficult to follow the story at times.
That problem aside, it's still a great idea and a fantastic show. You'll need to know at least a bit of the story already, because it doesn't really slow down for you.