Yes, the BBC got my attention with that headline too. Here's the official press release. This is the launch of XNA Framework, a custom implementation of the .NET Compact Framework for game development.
Dan Fernadez has a great summary and a great collection of links on his blog. The talk is all about C# express, there is a tantalizing comment that "Since the XNA Framework is a set of managed code libraries, you can use any managed .NET Framework language." ... It opens up the rather odd possibility that you can write for the X-box in CoBOL ????
It seems like today might be a day of links, so here's a Bonus Link: After trying out VB express with some enthusiasm, I was going to write about about how it's a great time for the hobbyist programmer - but Dan's written that one too.