I was told the exact details by referee how the hawk eye works. I just don't exactly quite remember everything. I will state this though: What they show to viewers on the screen is adjusted. That's why in some cases you see that it's way off to where the shuttle actually landed.
http://www.victorsport.com/mobile/coach_detail_6958.html Similar to tennis with 8 high speed video cameras at 660fps each, but no computer simulation of flight trajectory due to light projectile at 5g that can be easily affected by draft and feather condition.