Well, I think those are not as cool as super cloud OS. Imagine the OS holds no user data or apps, just a bare bone connection to the physical HW. Then, you load the VHD that contains all the setup about security, registry, envirnment variouables, and etc. But, not everything is in the VHD, when you run the registered program, it will then download it from cloud (should use .Net for small footprint). You can see your files, but, only downloaded when you open it.
So, it is like a roaming profile without really download everything at once, only download by demand. Only the VHD is downloaded at once with all the OS properties and registry and etc to be loaded. And it does cache everything for offline use. Now, that the real OS on the go. I could have my notebook, netbook, desktop, and everything runs in the exact same VHD. ofc I will still need to buy the bare bone OS to read that VHD.
Pretty much a glorified Mesh.