Pebble has never used E-ink, despite all the confusion in the media (not that Pebble was in a hurry to rectify it, since it played to its advantage). The color one doesn't look like E-ink now either. They used some transflective PixelQi-like displays in the past, but not sure if they're using an upgraded version of that now (with color!) or something like Mirasol, and they are just naming it the same.
Ahh, and I was most excited about the new E-Ink tech I thought they were showing off in those GIFs. Hopefully something like it can come to the Kindle eventually. Would be great for comic reading (and the animations are so smooth!).
Damn, that's really misleading. I've always thought E-ink would be good for smart watches, because it shows text well, has great daytime visibility, and is power-efficient.