According to this article:
http://www.usatoday.com/tech/news/story/2012-03-13/ultraviolet-walmart/53513136/1 it sounds like the Walmart program is managed through the Vudu service. No Vudu "app" on

TV probably means we're out until that app arrives.
The article does reference iDevices for playback though (but probably because they can access Vudu.com), so this might fly for those who want to airplay them from an iDevice to

TV.
There is a pretty good chance it will work with "Smart TVs" that have the Vudu app.
To me, it looks like an iCloud-like "stream everything" effort toward trying to achieve a similar iTunes-like lock in. It appears they'll store one master copy in SD and HD on Vudu servers (like iCloud) and then stream the appropriate copy to you on demand (like iCloud). Like iTunes, the relationship with Vudu will be key to having access to the media. It probably can't be downloaded and stored locally (thus, no real ownership of the digital file should- say- Vudu go under, other than your ownership of the original DVD or BD media). So, it appears they're not really ripping your own disc but are instead making proof that you own the physical disc + $2 or $5 a personal key for you gaining access to the master file stream via Vudu.