It's lime-green as a social theft deterrent. In their intended setting (developing communities, not necessarily strictly third-world), not many folks would steal a bright lime-green laptop computer if the society around them generally recognized that they were expressly for their childrens' education. That's the idea anyway. It's also like a mail truck – nobody steals a mail truck, because nobody wants a mail truck-looking vehicle. There's just no market.
If you haven't already, click on over and view Nicholas Negroponte's
TED Talk. It gives a very good overview of the project. Negroponte's philosophy is that the solution to the common problems afflicting these developing countries (poverty, famine, environmental concerns, etc.) is education. He looks at computing devices as tools of education – when children are given tools to learn on their own (not necessarily by the aid of teachers), they're more equipped to make life better for themselves and others. Negroponte really views this as an Education project... not a Laptop project.
I'm sure this has been mentioned before in prior MacRumors discussions, but the machine runs Linux and not OS X because then the OS would be non-restricted, open source, and, essentially, free. I seem to recall Jobs and Gates both offered free licenses for their OSes for the project, but the team opted not to so that they weren't dependent on an individual corporation... the child, in a sense, truly "owned" every part of the computer.
I like both names. CM1 is alright, while 2B1 also has a real snappiness to it. I'm trying to think of some witty educational explanation for the name – "to be one"? Hmm.
I don't know if I'd want one myself (although they're definitely neat), but I'd definitely love to take part in supporting the world's children in this way. They could very easily get "sponsors" to fund a laptop purchase for a child in another part of the world, even if the sponsor got nothing in return. Putting this out on the consumer market does have it's advantages too, but I imagine the technology will drift its way to that market anyway, even if not put out by the One Laptop Per Child organization.