When a parent is reading a book to their child, they sometimes cuddle up together so the child can see the pictures, and sometimes even the text. This would be made easier if the book was projected onto the ceiling or wall.
Taking this further, the text could appear like karaoke or subtitles, so that
the child is seeing the words as the parent speaks them, associating the dual inputs and learning.
Audio books could be made in a format that followed this with a player/projector that displays the correct text with the spoken audio. The parent would have the option of muting the audio and reading it themselves. The device could allow the parent to record a second audio track where they read the book at the correct pace. Then the child can hear the parent reading to them when they are not there.
The deluxe model would also display illustrations at appropriate points.
Unfortunately, the super deluxe version would just be a dvd with subtitles turned on.