For some time now, rumors of a 'next-gen' Wii were floating around. An updated Wii with HD graphics and can run on 1080p does sound like it would be fantastic, especially since sales dropped for the Wii recently. Rumors are, however, usually just rumors. As Reggie Fils-Aime of Nintendo of America says, "...there is no Wii HD."
Nintendo has given in to the cries of the public for the Wii to sport some new colors. But, despite those cries, the colors are available in Japan and not the US. Aldo, given the price drop, the Wii now remains a fairly cheap and even more affordable console for Nintendo's target audience.
Although... anyone who follows the game industry usually finds that most rumors coming into the light do find some truth, maybe despite Reggie's words we might still see a Wii HD?
You might (or might not like):
What They Play: New Wii Due by 2011