B&N has been upfront, as far as I know, about android apps...the only ones they've allowed are ones from their own "App Store".
You can get around that by rooting your Nook Color, or booting CM7 (as a dual boot or from a side card), then installing the Android Apps market, but you have to make a choice here, as this may void your warranty. There are plenty of resources, both here, XDA, NookDevs, Youtube, etc if you want to do some research on what this implies.
If you don't want to buy an n2a card and give up the stock Nook interface, you can simply root your NC.
The technique for 1.2 uses a tool called Manual Nooter.
Instructions and links to files :
You want to use the third technique for 1.2.
Once you have it rooted, you want to pay attention to installing Titanium, uninstalling the BN flash and then reinstalling Flash from the market.
put a n2a card in your nook an it will be a droid