No one knows exactly what this thing is for, or where it might be used. It could be for the new iPad, or something for the upcoming laptop refresh. It could well be an extension of the work Apple has done on multitouch, or something completely different. Apple has filed under International Classification 009 which includes touchscreen and trackpad tech, so it's possible that they're just covering their bases on their current products, and nailing down a marketing name in advance.
Frankly, we're not quite sure what else Apple's trackpads can do to be any more magic -- you've already got the gestures, the multitouch, and vast application support. What's next -- a genie that appears when you swipe it just right?