What is revolutionary about 360?
As far as viewing a 360 video or still in a head set, you need some more software. And even if just on a monitor some extra soft too.
As far as 360 on a monitor, this is about as advanced as I have seen:
http://360gigapixels.com/rome/ you can zoom in super far due to the thousands of photos that were taken at every focal length. Though the soft will easily work with a TG render, I can't imagine how you could render out the thousands of images needed to get this same kind of pano... don't forget about processing power just for viewing.
TG to VR is certainly possible. But only if you have a good way to get your terrain to a real engine like Unreal. But then its not a tg render any longer, its a unreal engine render. But in this case, even with a enviro where all you can do is turn you head and look up and down. you still need as much as 90fps to avoid pretty intense discomfort. You can get by on 60fps, but it is still not very nice.
Then of course you can render out a 360 from TG an get it loaded into a head set player as a single image (there are lots of options currently, but I wouldn't bet on which ones will still be around in a year). For this you still need more soft than TG alone, and a popular head set. But thats not very revolutionary. Though with some music and traditional video transitions you can make a pretty fun slideshow. This can also be viewed on a phone/goggle set up or a head set plunged into a PC, but your audience is limited in number for now.
If this is for a museum installation, the most practical thing would be something like the link at the top of this post, viewed on a monitor. That would have been pretty cool half a decade ago. Not sure how much interest it would create now.
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In that thread about the convention, in open, Oshyan said he viewed a TG enviro in VR. But he did not say how. I would be very interested to hear the workflow they used to get the terrain into the real time. Other than a height field, I would like more details! And if there is some alpha version of TG that is being developed specifically for VR, I would like to hear about that too!
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If TG output vector maps, those maps could be baked in Mudbox, then you could take it to a real time engine. I haven't checked if you can open and displace a vector map directly in unreal engine. That would be nice to know.