Ok, this sounds very unlikely.
With a little knowledge of technology and 3D space, you can think of several counter-arguments to the idea of this thing.
1. Humans have two eyes, which allows them to see perspectively. It is possible to create holograms which appear like a 3 dimensional image, although they're kept on a flat film. But creating those holograms is technical laborious. Go to a university, many have the apparatus you need to create holographic images. Also it is not possible to create a holograme that can be viewed from 360? degrees.
2. There would have to be billions of optic sensors that scan the environment built into the suit. Even that would not suffice, there would also have to be sensors that scan the areas that cannot be seen from the surface of the suit. Look at the state of the art. We don't even have computers that can interprete the image from a single camera with a high definition in a reasonable amount of time. This computer in the suit would have to interprete billions of images at least 80 times per second.
3. What if you have multiple people looking at the suit. Which image will be displayed on the suit? You can only render the image one person would see in one frame.
4. What about light reflections? There is no solid material that does not reflect light.
5. What happens to the shadows that person who is wearing the suit casts? Every material influences the light, either it reflects it, or just changes the direction it is traveling in. The computer would also have to compensate these shadows and add shadows that would be projected onto the environment if the wearer of the suit was not there.
That's not everything. Just a few examples which are quite obvious.
Don't believe everything you read, even if it comes from the BBC.
Think outside the square!