I’m a bit behind the times on this one, but for those who haven’t seen it:
Thermo is a new tool that allows designers to build applications. It allows them to start with a picture of an application, like what you do in photoshop, and to add the interactivity and behaviour without writing code
A more detailed run through was shown at MAX 2007:
Microsoft has already released a similar product, Expression Blend, but I’m not sure if it has the same compatibility with Photoshop. Both platforms are designed to promote Flex and Silverlight, Adobe and Microsoft’s RIA technologies.
LINKS: Thermo Product Page, MAX Keynote Part 2 & Part 3