Interesting.
If we assume that, that is indeed the cold plate of the Fiji cooler, a couple of things come to mind.
1, No heat spreader.
I really thought AMD would use one, but if they haven't then it might allow for slightly better direct die cooling.
2, Different height of the core and memory stacks.
This surprises me, it doesn't allow for both the memory stacks and the core to be in direct contact with the core. It seems to completely negate any advantages of not putting a heat spreader on it.
Also it might make changing out the stock cooler a little more tricky as getting the right amount thermal paste will be crucial.
3, No PCB cooling.
If the card is as previously pictured with no fan other the ones on the radiator, then the rest of the card is not going to get any cooling at all, seeing as the cold plate is only covering the die and memory stacks. hopefully there will be some additional heat sinks on the other vital components, but with now airflow I'm not sure how well that will work.
4, Definitely only 4GB.
The image clearly shows 4 memory stacks, so that confirms 4GB.
All of this kinda makes me want that image not to be accurate, but I do feel that it is.
Lets just hope that the thing really, really performs and comes in at a good price.