Ha, you made my day! I actually wrote that view :)
This is actually very straightforward. This view uses UICollectionView with a custom UICollectionViewLayout.
The general principle is this. I make up a 'drag interval' – that is the required distance to drag between each cell. This value is arbitrary but affects how much the user has to drag to switch cells. The total height of the collection view is the 'drag interval' * the number of items in the view. Then I set the layout to automatically paginate to the nearest drag interval (which gives it the snapping behavior). This is very similar to how coverflow works. From this you can calculate the index of the 'top cell' by dividing the contentOffset.y by the height.
With the 'top cell' index you can generate the frames for each cell pretty easily. The top cell's frame is { 0, contentOffset.y, 320, 176 }, and from there you can calculate the next cells frame and so forth.
Then the last trick is calculating the interpolation of the page index. This is basically the decimal part of the current cell index. This will give a number between 0 and 1 that can be used to calculate the interpolation between the top frame and the frame below.
Every 'prepareLayout' calculates the frames of the cells on screen, and then in layoutAttributesForElementsInRect:, generate all the layoutAttributes based on the generated frames.
Using this trick you can create all sorts of complicated layouts. UICollectionView can be a powerful beast, but definitely takes a bit to wrap your head around it.
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