vb.net Laser Tracking

For my next hobby project, I'm planning to write a program that can track a laser pointer (in a cameras field of view) and draw a corresponding line on the monitor/projector - laser graffiti (its been done before, but I'm having a go).

The only approach I've seen so far for detecting the position of the laser is to scan the image for a luminance value above a certain threshold. Luminance can be worked out from this equation (taken from http://www.codeproject.com/KB/direct...gesture.aspx):

Luminance = (299 * red + 587 * green + 114 * blue) / 1000

That will work fine as long as the laser is the brightest thing in the picture, but I'm wondering if there is any other way to detect the dot. I know the exact wavelength of the laser. Could this be detected with a regular camera?

Thanks for your time.