Eucalyptus, for those who don't know, is fully compatible with Amazon's AWS cloud. Its Enterprise Edition supports VMWare emulation.
One concrete result is a Groundwork Monitor Enterprise Cloud program, for which the company is now recruiting beta testers. A less-concrete result is speculation that the two companies will come up with their own cloud stack.
Speculation is a good thing. Having people talking about your company means they will recognize you when you come calling.
Clouds still represent a risk for many enterprises, and part of Mickos' charge is to reduce that perceived risk. So regardless of what it means strategically, bringing in a monitoring solution for privately-owned clouds running Eucalyptus is a very good thing for customers.