Well I think it COULD work. I'll explain. The Remote already uses triangulation to determine position, so having it use math to do this isn't that crazy.
It would need a starting point, so you would have to calibrate it first. Every time the remote detects the bar it would need to recalibrate. That means that if it can see the bar it is using the data from calculating angles.
When it can't detect the bar it simply calculates its position based on distance formula.
X: Final distance traveled.
Xo: Distance already traveled.
Vo: Initial velocity (how fast it was going before you started this last movement)\
a: Acceleration (it would have to take an average over split seconds, at least that's how a lot of sensors do it)
t: Time. How long you moved it for.
From that you could get Position by:
Px=Pxi+dx
Py=Pyi+dy
Px is the final position on an x-axis, Py is the same on the y-axis.
Pxi is where it started on the x-axis, and Py is the same on the y-axis.
dx and dy are the distances traveled on each axis.
This wouldn't be a real simple thing to do, it would require the use of memory (perhaps the remote's internal memory). It could be an interesting thing for some of the people who have toyed with the remotes to try.