I SWEAR that I do not work for these guys ... anyway ...

On their press release pages, iRex say they'll be full colouring in 2011, the following press release holds the deets, I think.
http://www.irextechnologies.com/file...0PR%20iRex.pdf

I believe, but I couldn't really see it on my crappy work monitor, that the following picture is some of the tech stuff.

I know that there's already a colour ebook reader from samsung in Japan, the Flepia, but that costs a cool grand (I think) ... hopefully they're going to take their time with this.

In the mean time, I fully expect the decent programmers out there to come up with a CBR-->PDF converter or a reader app for this thing.