According to what I just read on some pages out there (searching on Google), it seems that it is supposed to be some kind of built-in-the-motherboard operating system (Linux) that would allow the user to use Firefox and Skype without having to use Windows. Can't say much more of it, since I've never heard of it before.
http://en.wikipedia.org/wiki/Splashtop Is your new laptop an ASUS?
malu