Last week during Macworld Expo, we formally announced details about Magnesium. The real name will be Office 2008, and we're releasing it in the second half of this year. We shared some screenshots with the press, and ran demos in our booth. Our Office 2008 demos were always standing-room-only, and people seemed pretty excited about it.
I think that the Microsoft blog over at the Seattle Post-Intelligencer has the best collection of screenshots in one place: Friday photo gallery: Office 2008 for Mac preview. There's several other press stories out there, but I'll leave finding those as an exercise for the reader.
Of course, these are just screenshots, so there's a lot of detail that's missing. I'll be talking more about Office 2008 in the next few months as we get closer to its launch. I'll probably talk more about it in Mac Mojo.