I don't think its Boyds', I think it's actually Robert Turmans'.
The lighting is not great in this video, but you get the idea. A fan strapped over the pickups of a guitar with what i assume is some sort of dimmer to speed up or slow down the rotations of the fan...it probably vibrates the strings as well. Hanson Records just put out the Roto LP which is great, I highly recommend it to anyone interested (it's also probably in short supply so i'd act fast). Other than that, I'm not sure if he is processing the guitar as well, but i'd think that is also possible.
http://www.youtube.com/watch?v=931GatlUjow
