Beta 1 of the next version of Office is just on the horizon. News sites are reporting "sometime this month." Usually that means November 30. I don't know when it's actually getting released.
That's pretty damned exciting for me, though. Will I install beta 1 on my home computer? No; no real need to. It's about as stable as you might expect from a beta 1. Actually, FrontPage is a little better than what you'd normally expect from a beta 1, I think. Will I install it on my tablet, though? Sure. I install a new beta build every week or so on my machines at work. I can't wait until a new version comes out that doesn't have the bright orange Halloween UI and pumpkin-shaped File menu and spider webs in the background of windows. That was cute for a day or two, but I've been using Halloween builds of Office for a week and a half now, and it's slowly driving me insane.
No, the version of Office 12 beta 1 that you see will not have the orange Halloween UI.