It is populated by an XML data file. Easy to add pictures, and it doesn't require the picture files to reside on your server if you use a direct URL.
It could use a little fine tuning, but I just slapped together a quick demo to show you the functionality.
I also added buttons to navigate through them, if I was to spend more time on it, I would make it reset the photo you nav to and wait a second before wiping again. I can also setup pop-up tumbnails from the buttons, customizeable options, timing effects and anything else you can think of.
If you want an exact duplicate of your sample site's look, timing and feel... no problem, but I would suggest going your own way.
Don't bother trying to download this for your own use, it's locked down to my server and won't work anywhere else.