Ready for even more rumors about Windows Mobile 7 and Microsoft's mysterious "Pink" smartphone project? Good, cause we've got a few -- and the first is potentially huge. ZDNet's Mary Jo Foley says her best understanding of "Pink" is now that it's a Microsoft-branded phone running a custom UI on top of Windows Mobile 7, developed by what's left of the Danger team and targeted at the Sidekick market. Yep, Microsoft-branded -- as in, the exact thing Microsoft has been denying for ages now. What's more, Redmond wouldn't be letting third parties use this new UI -- Pink would be manufactured only by Sharp or Motorola, who've made Sidekicks in the past. It all makes sense, even if it does feel a bit like MS is knifing its partners in the back -- companies like HTC and Samsung have been equally aggressive in layering their own UIs like TouchFLO 3D and TouchWiz on top of WinMo, but it's another thing entirely to compete against Microsoft itself, especially now that AdWeek says Microsoft's selected an agency to develop a Pink ad campaign. Yeah, things are starting to get a little wild -- we haven't even mentioned the open questions of whether the Zune HD is running Tegra because it's based on Windows Mobile 7 Chassis 1, or whether Pink will launch on Verizon, or whether Zune will appear on other phones, or... you get the idea. Hey Microsoft -- you want to clear any of this up by shipping some products?