Casio recently launched a new iPhone app called Picapicamera.
Instead of using black and white modules/pixels and/or other geometric designs (i.e., customized QR Codes, Microsoft Tags, SnapTags, etc.) to base a code on, Picapicamera uses an array of colored dots (red, blue, green) to act as the code.
While the amount of data to be held by the colored dots is very limited, the distance by which they can be read/scanned is supposedly further than for QR Codes. Additionally, the technology enables easy social sharing of the message or content embedded in the colored dots.
It will be interesting to see if Casio, or anyone else for that matter, develops the technology further and if companies may start to make use of it commercially. Time will tell.