That's not the definition of vaporware. In general, vaporware is a product that company claims it's working but it never shows a preview to customers and no ship date is given.
This was a tactic that Microsoft and IBM used to employ back in the 1980s and 1990s. They would announce that they were working on a piece of software and show a few glossy pictures of it. However, they wouldn't give any indication as to a release date, and in many cases, they ended up not even shipping it. It was a tactic designed to intimidate competitors into shelving their software development plans.
By this definition, Windows 8 is vaporware. All we have seen is a graphical overlay of it. We have not seen it demoed in person. No timeline for release has been given.
Lion is not vaporware. Even back in October, we actually saw it demoed in person. Also, a clear release timeline was given.
Microsoft is still using this tactic - the folio comes to mind