Tablet functionality?
Perhaps the precursors of a non-iphone based editing app in the works? - if the underlying hardware and interface on the much rumored apple tablet device is based on the iPhone UI then who knows...
I can't see current iphone hardware being any much use even for casual video editing... (If apple inteded video creation functionality then surely video recording would have been an option from launch, never mind 3.0?) The built in camera is crap anyway, the processing hardware won't cope and there is no external interface to import footage from the majority of other devices (bluetooth and Wifi compatible HD camera's being a novely).
Now, a multicore tablet doo-hicky capable of doing draft editing of footage in a directors hands in the field, now that would be cool.
Just speculation though. The artwork is probably totally unrelated to video editing.