I'm waiting for Netflix client for NookColor myself... Unfortunately, it's for Netflix itself to decide to make an app for NookColor, and not N&B... There is one thing that may prevent Netflix to make an app for streaming - hardware limitations. I'm not a hardware person, but I know if a device's CPU and video chip are not able to decode the video stream (not enough power) and/or DRM encryption, it's impossible to play a video (or video will be like a slide show). This may be a deal breaker for Netflix to bring their streaming app (dont take my word on it). I know that Netflix is using a very sophisticated DRM and video compression, even my 3 year old laptop is having troubles to play some movies, I have to degrade the quality...
It's not a hardware issue. The Nook Color has the hardware support needed in spades.
In fact, I'm running it on my Nook Color now, but only because I've the CM 7 on a microSD card. The 1.3 version works without any problems.
It's now up to Netflix to submit it to the B&N App store. Once enough of the apps I desire are available, I'll eject the microSD card with CM7 and use them on the stock software.
But to be clear, the hardware of this e-reader/tab is not what is limiting our access to Netflix.
From what I know, B&N is not responsible for what the icon of a app looks like as long as it complies with their guidelines. Be sure to read the full overviews of apps. Also, this app is made by UnitedMindset and not by Netflix. If you are interested in a Netflix NOOK Color app, my best advice would be to contact Netflix.
From the Queue Manger app overview:
*Only can "save" titles in theatres in disc form
*no streaming available, contact Netflix if you insist on this feature