Windows 7 appears to be a great success. The OS is fast, stable and provides great features. The Windows Embedded team directly benefits from these features and enhancements especially for its future version of Windows Embedded Standard which is based on Windows 7. Think of it as a componentized and embedded version of Windows 7. Therefore, to make it clear, the name for this product will be Windows Embedded Standard 7.
One of the other products of the Embedded group, so far known as Windows Embedded CE (which is a componentized, real time, embedded OS built from the ground up and running on multiple CPU architectures such as MIPS, SH, ARM and x86) will get a new major release and a new name soon. As the current version is version 6.0, obviously the next one will get the 7 number too and will be called Windows Embedded Compact 7.
Last but not least, the next version of Microsoft Auto, the Embedded OS for building car infotainment systems (check this post for more info) and based on Windows Embedded CE today will be based on Windows Embedded Compact 7 and will be named Windows Embedded Automotive 7.