The guy in the video, you will see him after this paragraph has shot Google in the foot for its bark that the new Face Unlock feature of Ice Cream Sandwich can not be fooled by simply using a photograph. But unfortunately, it can be fooled. The man in the video uses his printed photograph instead of his actual face and the device is really unlocked.
As we have seen, the guy is using a photograph from other device (a Galaxy Note) to "Face Unlock" a Galaxy Nexus. This explains on extreme sensitivity the Face Unlock feature is. So Google what will you say about this security issue in Face Unlock?