I don't think the price is really any clue to the processor. I think Elonex will just sell their netbooks at what ever price they think they can sell them at. The Onet went up from £99 to £119 before Christmas, and I expect it'll fall again soon. If it's x86 inside it might be a sensible move, although I've read some people have tried installing other distros on the Elonex One (like Damn Small Linux, Puppy) and failed, so I don't know just how compatible it is. Having said that, if it makes it easier for Elonex to get updates out for things like video playback and flash then it's a good move.
What scares me is the article suggests some models will sell for £200 - will they be gold plated I wonder?!