this is the show "timewarp" on discovery.
They show various things with highspeed cameras.
Here is an episode where they filmed a baseball being hit.
It does exactly what is pictured, not to mention, how much the bat flexes.
About 1:30 into the video, you see the baseball compress.
About 2.30 into the video, you'll see the bat flex.
http://www.youtube.com/watch?v=QFlEIybC7rU