But before getting too excited, however, Weston is just a renaming of the demo Wayland compositor.
In this mailing list post, Kristian outlines his reasons for renamining the sample/demo wayland-compositor to Weston. This mostly comes down to avoiding confusion.
Like Wayland, Weston is also a town in the US state of Massachusetts.
In related news, there's also a lot of clean-up work going on for the Wayland X11 compositor. See this mailing list message.