So, What does EDU2.0 means??

You would have heard of Web 2.0 and I am assuming that you are a little familiar with the meaning of Web 2.0.

Here is what Wikipedia has to say about Web2.0
"In the analysis and promotion of web-technology, the phrase Web 2.0 refers to a perceived second generation of web-based communities and hosted services — such as social-networking sites, wikis and folksonomies — which aim to facilitate collaboration and sharing between users"

If you think of education on the same line as Web 2.0 what you will get is Edu 2.0.
Edu 2.0. is a second generation of Web Based Education system. What "Web 2.0" is to internet, "Edu 2.0" is to education".

Here is a little snippet of Edu 2.0 from the site itself :
Name
edu 2.0, meaning 'next generation education'.

Mission
Make teaching and learning more efficient and enjoyable.

Service
Free web-based education site with comprehensive features for teachers, students and parents. Anyone can teach and/or learn using the system, whether it's at school, at home, or on the move.

History
Founded in 2006 by Graham Glass.
Graham is a serial entrepreneur and winner of the 1996 Entrepreneur of the Year award.

Location
We are based in the beautiful city of San Francisco, California.
source: http://www.edu20.org/company/about

Now lets have a look at some of the milestones that www.edu20.org has already achieved.
Latest Milestones:
Sep 11, 2007 - EDU 2.0 on KillerStartup.com
"EDU 2.0 is featured in the top 10 startup at KillerStartup.com."
source: http://grahamglass.blogs.com/main/2007/09/edu-20-on-kille.html

Sep 3, 2007 - EDu 2.0 passes the 1000 member mark
"In the two months since launch, edu 2.0 has passed the 1000 member mark."

Aug 14, 2007 - EDU 2.0 Internationalization
"The first phase of edu 2.0 internationalization is almost complete"
source: http://grahamglass.blogs.com/main/2007/08/edu-20-internat.html

For a detalied milestones of www.edu20.org , visit : http://www.edu20.org/news

Overall, www.edu20.org is a great start that has potential to revolutionize the future of education, hope it helps the humanity and changes life globally.