From the photos it looks like the display panel is driven by a Raspberry Pi. Adafruit makes it relatively straightforward to build the hardware part [1], now all that's left is the software that processes the audio and displays the visualization.
The panels are from adafruit - there's 4 32x32 panels so you need a beefy PSU to power them.
The visualizations listed there are:
1. an STFT (this is simple to compute - look @ numpy.fft.rfft
2. an energy based vis - light up n pixels where n is proportional to the energy of the frame (this is the integral of the function squared).
3. another energy based vis where if enough energy accumulates particles fall (acceleration proportional to energy).
The code's super kludgy; I'll release it once it is cleaned up.
[1] https://learn.adafruit.com/raspberry-pi-led-matrix-display/o...