Thanks to @jane_l on Twitter!
This is puzzling:
Apparently someone did not do careful proofreading of this site. Under Support this is what it says:
Q. What File Formats does nook support?
Nook supports all eBooks, eMagazines and eNewspapers sold at Barnes & Noble.com. You can also load many other files, including MP3s and PDFs, as well as ePub and PDB files.
You can also load images for wallpaper and screensavers using the JPG, GIF, PNG, or BMP formats.
And this must confirm it is using eReader format:
Q. Can I read my nook’s eBooks on other devices like my mobile phone?
Yes, you can read your eBooks across a wide range of devices in addition to your nook. All you need to do is download the free Barnes & Noble eReader app on your iPhone and iPod touch, BlackBerry® smartphone, or Windows® and Mac® laptops and desktop computers. And the eBooks purchased from BN.com will sync between your nook and other reading devices with the Barnes & Noble eReader app, so you always return to the last page you read.
Well, Barnes & Noble does the official unveiling at 4PM EDST today. All of you can go find out more then.
The eBook Test 
This is certainly interesting seeing as it’s the same price as the K2, but, I’m finding suspiciously little info at B&N as to what the color LCD will do beyond cover browsing, annotations and controls. Since the Nook runs Android this thing should be able to do a lot more than that.
There’s Android and then there’s Android.
There is Google-approved Android and the open-source Android. Word is the Archos 5 Internet Tablet is using the latter, hence the lack of key Google software in it.
This could be the same situation.
Never fear, however. Teh haXXorz will get at it and gain root access in no time after it’s out. That will be interesting, but only as an exercise to me. I’m otherwise not interested in the Nook.