I have lots of questions. Notice that the video specifies that the magnet on the Dremel is 7mm x 7mm x 7mm, and the magnet being levitated is 6mm x 6mm x 6mm.
Does the levitating magnet have to be smaller than the spinning magnet? Does the rpm of the spinning magnet affect the standoff distance of the levitated magnet? which orientation are the polls on the spinning magnet - on the axis of rotation, or sticking out perpendicular to the axis of rotation?
Yep.. :)
At about the 2 min mark in the video you posted, there is a brief description of both magnets' pole orientations. Both the attraction magnet and levitating magnet begin with their north poles perpendicular to the axis of rotation. So, perhaps as long the levitating magnet has rotational balance, the shape of the magnet doesn't matter?
The video posted is excellent and the presenters do a good job of describing this.
Thanks, and the OP, for posting! Very interesting!!