Xavier posted this over on Notebooks.com and it is certainly worth reposting here and a follow up here. This looks like a handy security tool for those who use a mobile phone and a laptop equipped with BlueTooth.
Phoenix Technologies has released a little piece of software called Phoenix Freeze. Essentially you configure a zone or distance in the software and when you walk away (carrying your phone) from your laptop the software will lock it down to protect it from prying eyes. When you come back then presto, your laptop wakes back up.
There is also a power saving green mode that allows users to step away and the computer will step down its power consumption, and then resume when you come back into range.
According to some users at jkOnTheRun, there appear to be some caveats and curiosities though. When you install the software some are reporting that this is a 14 day free trial but there is no mention on the Phoenix site of how much it will cost you when the trial is up. When I installed the software I saw no mention of the 14 Day Free Trial. Also, there is a warning on installation that you can’t use this in tandem with a BlueTooth mouse or other gadget. The software is available for Vista and XP only at this point and all seems to be working as advertised here.