With the official announcement of Android Wear, you can now look forward to custom control and alerts via AutoVera and AutoNotification. These Tasker plugins will let you create custom, beautiful, actionable notifications to control your home, right on your wrist. These notifications can be contextually aware and trigger via any number of conditions, giving you quick access to devices you’ll want to control, when you need to.
Using the Android Wear Developer Preview, I’ve created a quick demo showing how your existing custom notifications will appear on your Android Wear device. Right now, you can use AutoNotification and AutoVera to create your own custom notifications for your Android phone or tablet, and as soon as you pair your Android Wear device, those same notifications will be available on your watch.
Watch AutoVera/AutoNotification/Android Wear Demo: AutoVera, Autonotification + Android Wear Preview - YouTube
UPDATE 7/3 I was generously lent an Android Wear device for a day and was able to put together a demo as featured in the OP. Bonus, voice controls work with AutoVoice and AutoVera. See youtube description for more info.
NEW[b] Watch Android Wear Home Control with AutoApps: Android Wear Home Control with AutoApps - YouTube
With AutoVera and AutoNotification, Vera will have the tightest integration with Android Wear of all other automation solutions, out of the box, without waiting for developers to add code.
Which Android Wear device are you looking at?
LG G Watch - LG Mobile Devices, Accessories & Wearable Technology | LG USA (pre-order now)
Samsung Gear Live - http://www.samsungmobilepress.com/2014/06/26/Samsung-Expands-Gear-Portfolio-with-Android-Wear-1 (pre-order now)
Moto 360 - https://moto360.motorola.com/ (later this Summer)