No, they are not the same. Not in the way they work nor in what they allow to measure.
The Wii MotionPlus uses gyroscopes to achieve a greater fidelity in measuring rotations only. That's 3 numbers.
The PS3 wand uses an external camera to measure position and - probably - accelerometers to measure rotations. That's 6 numbers.
That video is a demo of a piece of middleware developed by a third party to simulate the position tracking of a Wiimote with MotionPlus, using biometric data and acceleration/rotation input. But there's no way to measure the absolute poistioning of a Wiimote unless it's pointing towards the led bar with its IR camera.
I don't think we need to go in too deep details, but their method has limitations when compared to a direct position measure, that's why - I think - you might have heard that Sony's method can result in better 1:1 tracking.