No, not the James Cameron movie coming out. Microsoft's answer to Miis and the Home characters will be Avatars by Rare. A lot of games shown at the press conference already had Avatars integrated into the games such as the new Scene It
game. The update comes this Fall along with a new dashboard that's more streamlined. I like how the Avatars look while being more complex than the Miis, they have a nice style to them. You'll be able to pick up items for your Avatars from games and I'm assuming purchasing some new ones as well via the Marketplace.