Here we can see the initial channels followed by Virtual Console games. From top left, first row: Twilight Princess, Mii Channel, Wii Photo, Wii Shop Channel, Bonk's Adventure (TG-16), second row: Weather Channel, News Channel, Internet Channel, Donkey Kong (NES), third row: Mario Bros. (NES), Super Mario World (SNES), Legend of Zelda: A Link to the Past (SNES), Super Mario 64 (N64).
This is presumably the selection menu for Virtual Console games, complete with Apple-esque reflection effect. It remains to be seen how it will function with other games (if the backgrounds and whatnot will change per each game, or if there are separate selection menus for each system).
The splash/launching screen for The Legend of Zelda: Twilight Princess is lightyears ahead of the tiny, text descriptions of GameCube launching days.
Be sure to check out Yahoo UK for a couple other shots of the Mii Channel and a little glimpse of the Wii Messageboard.