Sooooo I'm kind of just experimenting with this and I don't have a phone with a gyroscope to actually test it, but, I have actually had an idea of how to do this. Of course RiftCat is how you can use your phone for your VR display (and of course this will not be nearly as good as the real VR headsets but it's amazingly cheap if you have the right phone) but what everyone's having trouble with is the hand tracking. Now again I haven't tested this but with Driver4VR you can use a kinect camera to control your body in VR. This translates your kinect camera's skeleton it made for you into controller movement so you can have full body tracking. But, what I was assuming (again I haven't tested so don't hate me too much) is that it could control your hands too. That would mean it would handle all the tracking other than the orientation, and you can use a normal controller to press the buttons after you point at it with your tracker.
There's also an option in rift cat where you can use another phone with gyroscope as a controller which may even fix the orientation issue mentioned eairlier. Now for this to be do able you'd have to have 3 working phones with gyroscopes in your house, which some people upgrade their phones a lot and keep their old versions just in case, or you may be lucky and find a crappy phone with a gyroscope used online.