It's the latest version of Deep Paint and Deep Paint 3D. Nothing later than 2.0. Deep Paint used to cost a pretty penny and I was quite surprised when it appeared on download.com. (I think I posted a note about it here. I certainly did in some other places.) The only difference between Deep Paint and DP 3D is that you can interacitvely, in real time, as danamo said, paint your models in the 3D version. The painting tools are absolutely the same. DP is a program for the simulation of traditional painting tools. So you get a picture that looks like it was painted in acrylics, oil, watercolor, chalk, whatever. You can either paint, or clone over your render with the artistic brushes. For an example, see Stuck in a moment in my gallery. It's definitely very much worth downloading. And I wonder why Adobe is selling it.

-- erlik