I don't think we know if the sensor on the remote can actually pick up what is on the tv screen...I think Nintendo has tried to imply that it can, but I also agree that it would be more likely that everything is done with the sensor bar.
Anyway, as far as the thing in the nunchaku goes, I'm going to guess that it can sense tilting and maybe movement, but not absolute location. For example, if you moved the revmote...wiimote one inch to the left, and held it there, the rev...wii would know. But if you did the same with the nunchaku, it might know that you moved it to the left, but that's as much as it knows. So you couldn't use the nunchaku to control a cursor on the screen, or at least not very well.