Yesterday we mentioned that Barnes & Noble was holding a press event on the 26th of October, except at the time we were unsure what they were going to be talking about or unveiling. Well, flash forward just one day and we now have some serious rumors that are pointing towards a new Nook ereader. Except, it looks like this will not be a run of the mill Nook 2 and instead will arrive as the Nook Color. Yup, a Nook with a 7 inch color touchscreen display. Otherwise, the Nook Color is expected to come priced at $249. As to why Barnes & Noble is taking this approach, according to the tipster, “it’s a big step ahead, instead of chasing Amazon.” Personally, I am not sure I could agree with that, as an ereader fan and user it seems like it is somewhere in the awkward middle between a dedicated reader like the Nook and a tablet like the iPad. That said, here it to waiting for October 26th and seeing if this is made official or not.