Hadj, those cutters are just like the cutters you use in a router, and they indeed do run high speed like a router. I have visited that shop several times & that machine is in the same room as the wood storage. If you are looking through wood while that machine is going, you'd be smart to have some hearing protection!!! It's a very cool machine. I'm not sure what brand cutters are used but the machine cuts both directions. I only cut in one direction, from right to left, because the cuts from left to right are not near as clean. But this machine cuts well both directions. Instead of making several passes in one direction, it cuts back & forth in a zig-zag fashion. Very efficient in my opinion.
I also have seen a tapering machine that was used by an old house cue manufacturer that was basically a fabricated dowelling machine with pneumatic actuators that spread & contractd the donut cutters to give the pre-determined taper. It was stupid simple but incredibly easy.