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First I'll tell what Teamviewer is, for those who don't know. Teamviewer is basically a remote desktop software. With Teamviewer running on two computers, you can remote control one using the other over the Internet.
Teamviewer standalone software does not allow 'remote control' the same computer. It can detect that if you attempt to 'remote control' your own computer and does not allow you to connect. Teamviewer also has a web interface based on Flash. The Flash version can not identify if it runs in the same computer since it runs on the web browser.
While Teamviewer standalone version is running, I logged into the same computer with the web interface. And it nicely creates 'the infinity effect' which you see when you place two mirrors opposing faces each other. You also can try this out, but this needs a considerable network bandwidth or it may take ages to create a perfect infinity effect.