Engadget says that the new interface 'looks more or less nothing like Android'. You might think it's a new operating system. The video mentions that this is 'the next generation of Android' and that's built entirely for tablets.
Google has focused on improving the user interface and Android 3.0 comes with fluid home screens, better app switching, browser tabs, video chat, dynamic app shortcuts and new versions of Google's Android applications that take advantage of the bigger screen.
It seems that the Android tablets that will be launched in the coming months will have impressive hardware and an updated operating system that looks stunning, so they're poised for success.
Update: Google confirms the release of Android Honeycomb.
Honeycomb is the next version of the Android platform, designed from the ground up for devices with larger screen sizes, particularly tablets. We’ve spent a lot of time refining the user experience in Honeycomb, and we’ve developed a brand new, truly virtual and holographic user interface. Many of Android’s existing features will really shine on Honeycomb: refined multi-tasking, elegant notifications, access to over 100,000 apps on Android Market, home screen customization with a new 3D experience and redesigned widgets that are richer and more interactive. We’ve also made some powerful upgrades to the web browser, including tabbed browsing, form auto-fill, syncing with your Google Chrome bookmarks, and incognito mode for private browsing
