I use this technique alot, it's actually photo projection not UV mapping, im fairly sure UV mapping is much more complex. For instance, take a 3d model in google skethup such as a sphere and try placing your projected texture on it and it will give you a bunch of streaks along the side, UV mapping actually folds around the object so you dont get streaks or the even worse messed up normal texture application.
It is UV mapping, it's just a roundabout way of doing it. All UV mapping is doing is basically "unfolding" the model so that it comes out flat. If you open the model I created for the tutorial in another modeling application, the UV maps will show up.
I imagine for the sphere you'd have to create a square texture and map it out rather carefully.
I don't know if that's what you'd get, but this is UV mapping...why don't you just try it for yourself? You can either load the model I made or follow the tut for yourself, export it to Collada, and import it into any other modeler. I believe Blender has Collada support by default.