This is a theme that's being built as part of 1.8.  The default 1.8 theme (which is what's in SVN trunk right now) is closer to the traditional Elgg design.

@Jaypee - If you received an invite but weren't able to sign in, please contact info@elgg.com and let them know.

Very nice theme on the demo site. The profile looks a lot more organized.

@Brett

I kinda did notice that the SVN code I installed looks like the traditional menu system. However since your mention of the new theme for 1.8.. after a few days.. this light bulb popped on inside my synaptic pathways. I reckon there *is a way to overwrite the siderBar menus at will. Of course a new Plugin is needed - trap the pageDraw @ the sidebar and do as one pleases. I'm gonna look into this some more - because for those who will still stay with < 1.8 for some time span, such a feature coud be useful..