The image at the left is of the older model.
"Tokyo, May 7, 2010 - (ACN Newswire) - Fujitsu Laboratories Ltd. today announced the development of a newly-enhanced color electronic paper (e-paper) that features the world's highest-level color image quality. By extensively redesigning the panel structure and image re-write methods of Fujitsu's previous-version color e-paper, in addition to offering bright color, Fujitsu has improved contrast ratio to 7:1 (a threefold improvement compared to Fujitsu's previous version), and has made the image re-write speed twice as fast at 0.7 seconds compared to Fujitsu's previous color e-paper, thus enabling smooth image transitions and color display quality that is at the highest levels available for color e-paper. "Details at the Earthtimes link above.
UPDATE - May 7, afternoon. (Original posting was same date, morning).
Electronista displays what it says are current color capability vs older version.
They also say that "The device is intended for the Japanese market and may be a sequel to the pioneering Flepia. American companies haven't adopted color e-paper so far, although Amazon has already said it eventually plans to switch to color for the Kindle. [via Akihabara]"
See larger picture (and accompanying story) at the Akihabara story or by clicking on the comparison photo.
SPEED AND VIDEO
I still think there is not that much contrast for a device that is currently selling for $1,000 in its less contrast-capable version. Also note, that Electronista mentioned "A 1024x768 color image redraws in 0.7 seconds, which is still too slow for video but is closer to the speed of regular grayscale e-paper " (which is important only because the Qualcomm Mirasol will have that. You can search previous articles here on Mirasol at top right search-bar).