Bon Ocho, the Firefox 2 code name is taken from a public park - Bon Echo Provincial Park in Ontario, Canada that translates to "good echo".
Mozilla Firefox 2.0 will have the following new features / improvements:
- Provide an easy access to History and Bookmarks, enhancments to Live Bookmarks
- Tabbed browsing UI improvements - Aim is to decrease the learning curve for new users and make the whole tabs approach more intuitive.
- Improve the process of adding new RSS feeds
- Extension Manager enhancements - option to blacklist firefox extensions
- Search Engine UI improvements - make adding search keywords more easy. Simplify adding or deleting search engines.
Update: According to BetaNews, Mozilla plans to release an early alpha version of Firefox 2.0 by February, with builds of Firefox, Camino and Thunderbird for Apple Macs running on Intel processors.
Firefox 2.0 Roadmap | Firefox 2.0 Planning | Mozilla.org Staff Meeting