[Update] Its a fake, it appears the user is using a Remote Terminal connection back to a PC running the unlocked SDK.
A developer over at htcpedia seems to have successfully ported Microsoft's upcoming mobile operating system, Windows Phone 7 Series, to the HTC HD2. The developer, who goes by "tom_codon", credits a Russian team for the successful port and has provided several screenshots of it running on the device.
The poster claims that almost everything is working except for the graphics driver, which is causing some slowdowns. A beta version is planned for release soon.
It was originally reported from Microsoft at MIX10 that the HTC HD2, which currently runs Windows Mobile 6.5, would not be able to be upgraded to Windows Phone 7 series due to incompatible hardware specifications. The HD2 is currently the most powerful Windows Mobile device and boasts a 1Ghz Snapdragon processor, capacitive touch screen, 5 megapixel camera, proximity and ambient light sensor, DX9 capable GPU, and 448 MB of RAM (576MB for US models).
Many seemed to wonder why a device this fast could not run the latest OS and the most popular reason speculated so far cite that the HD2 sports too many physical buttons and doesn't have a dedicated search button. Microsoft stipulates that all WP7S devices must have three physical buttons: search, start, and back.