Is it not possible this is the new Mac Mini, and it has simply been geared for developers in the instance of the 'Mac Fusion'?
I don't think the form factor would be an issue at all, more so with penryn. Apple TV casing will get hot, and this is a good thing, it means the heat is dissipating correctly, I would be more concerned if there was no heat coming off it at all 😉
If they can fit what they have into the MBA, I don't see a reason why that form factor would be a problem, with more power than the MBA.