The VirOS project aims to open the door of operating system distribution creation to everyone. With the push of a button, or a short command line, you too can create an entirely customized linux-based distribution. VirOS doesn't stand for anything, however "Virtual OS" and "Viral OS" aren't too far off the mark, if you think about the output produced as being a customized livecd.
There are some existing projects whose goal is to simplify the process of generating or remastering livecds. In addition to simplicity and ease of use, VirOS breaks new ground, by working entirely in unpriveleged mode. By not requiring root or administrator priveleges, VirOS does not pose as severe a risk of damaging or altering the host build system.
Currently, VirOS only supports producing livecd/dvd/usb/os distributions derived from ScientificLinux-6(rolling-alpha4), or Fedora-13, suitable for an x86 architecture. Future versions will support multiple architectures (namely, x86_64 definitely, and ppc for ps3 maybe), and base distributions such as centos-6.x(&5.x), debian, and ubuntu. Currently there is no GUI, though one is planned utilizing rapid GUI development tools such as python and glade. (x86_64 might already work, the author just doesn't currently have access to an x86_64 build system)