"More details about the Chrome OS, including privacy and licensing information are likely to be unveiled later this year when Google makes the code available as open source."
What a clueless reporter - open source coding gives you all the code and you or others can change it and recompile it as you want.
Chrome OS is not a web browser (that's just Chrome).. Chrome OS is an operating system (like Windows, Mac OS, Android, or iOS). It was created for netbooks/tablets.
Chromium and Chromium OS are the open source projects that drive the web browser and OS respectively. The code is available for anyone to download so there should be no secrets of exactly what they are doing.
