SQL 2008 R2 on Windows 8 - Compatibility Warning?

What does the Compatibility Warning mean?

If you see the warning you may ignore and move ahead with the install.

It's expected. The SQL Team says, they support minimum SP1 of SQL 2008 R2 and hence the warning. Once complete, apply at least SP1.

 Refer https://support.microsoft.com/kb/2681562