Up until now the only thing we have had to call Microsoft's upcomming anti-virus applications is Morro, its codename.
Microsoft has decided that it is time for us to be enlightened as to what Morro's name will be later this year when it is released and that is "Security Essentials". While verison 1.0 isn't expected till much later in the year, it is said that Security Essentials will be in public preview form come September. When released it will be available to consumers for free.
The screenshot of Security Essentials may be far from what we see from the retail. This is what it looks like now as it is going through internal testing.