They need to incorporate location of the wristband with some sort of triangulation between transmitters. Then they can make it an actual display. I'm sure this will happen in the not too distant future and I'm excited to see it.
I mentioned this in another comment but it should be easy to correlate a seating assignment to a wrist band MAC giving you reasonably good location information. It wouldn't work "in the pit" obviously but you would be very hard pressed to get any accurate enough location data in an area like that.