Interesting, but when I saw the two regions I immediately wanted to drag an object from one region directly to the other, rather than out the bottom of one into the top of the other. The wormhole seems interesting for cases similar to the stated use case (scheduling across day boundaries), but for the common case of moving items between different regions, some mechanism for dragging directly between the two regions would make the interaction more smooth.
When I drag the red rectangle around in the left container, bits of it sometimes get "stuck" in the right container. I'm doing this in Chrome 11.0.696.71 on Ubuntu 10.04, if that helps.
I'm mildly annoyed when I see parts of a portmanteau capitalized. It's <i>wormhole</i>, not <i>worm hole</i>, so the CamelCase would be <i>Wormhole</i>, not <i>WormHole</i>.<p>A really neat idea, though!
Cool. Would be nice to be able to specify the edges that "connect" between the two containers... would definitely be useful in either education apps or a more visual way to do multi selection+order lists (aka List Builder).