You Reply: Yes, exactly. The ring will be one of the output devices in a network of sensor nodes. It will be just like those coasters that you get at restaurants when they can't seat you right away. Only mine will be better ;D
Better how? Well, you could teach it to blink at you when the washing machine is finished, for example. This will need the help of other cheap sensors scattered around the house of course. The possibilities are endless when you bring wireless into the equation.
You guys should make more 3.3v-friendly stuff. That's pretty much what modern sensors run at.