Android on TouchPad: A different approach to getting Android up and running
We've seen plenty of advancements with getting Android up and running on the TouchPad but now a new mthod has popped up for people to try out. It's dubbed as a test for now, so don't expect it to be a flawless execution as demonstrated in the video, but that's ok. You can download and install the test IPK file to your TouchPad and essentially you have Android up and somewhat running within a card -- just a like a real app would.
While we're not positive on just how this is working, it appears as though it may either be running in a VM or a variant of the Android SDK emulator, the slowness is what gives more weight to it being an emulator. No, it's not the best or fastest method of doing such things but the potential is there for greater things if some of the bugs are recognized and worked out.
Source: Pre Central Forums