It's called Lumineye Technology, and this surgical procedure claims to turn brown eyes blue permanently. According to Dr. Gregg Homer, the "laser energy removes the brown pigment, or melanin, from the top layer of the iris, and the blue eye color emerges over the following two to three weeks." Video after the break.
It would provide an alternative to those who wanted lighter eyes without resorting to cosmetic contact lenses. However the procedure - which Dr Homer has developed over 10 years - is irreversible because the brown tissue cannot regenerate.[via Technabob - DailyMail]