Before you get too excited, it won’t be released until next month, it’s only available in Japan, and it has a $1,000 price tag.
The FLEPia will however have a color screen with touch capabilities. Old School Palm OS stylus touch control though.
The display uses a variant of LCD tech that doesn’t use a backlight. The backlight is the power hog that has kept it from being used in a ebook reader yet.