There is no way to have the projector on the ceiling and project onto a wall below.

also, this is more of a feature request, but can u make a monitor component? kinda like a CC monitor but with the same res and colour depth as the projector

Allowing to adjust the projection direction seems reasonable.

For the latter.. someone could write a lib that uses the framebuffer device for rendering. If it's not too complex/large I'd be happy for a merge request of something like that.