vCenter Orchestrator is part of the management vServices. This will be available (suprise suprise) next year.
What you can do with this is drag-and-drop development of customized workflows to automate operational task.
Examples of what you can do with this are:

 – automate builds of ESX and VMs
 – Provisioning storage and network related devices relating to virtual infrastructure

Managing applications and operating systems
 – automating appl installation and basic configuration

maintenance and a bit of DR
 – creating or moving VMs during maintenance
 – pre-provisioning of VMs

Backup and decommissioning
 – managing archives, backups, and snapshots of VMs

I recorded the demo that was shown. It was actually pretty funny, because what he created was a workflow to do a quick migration of a virtual machine. So what Microsoft is doing with Hyper-V now, an administrator can create an automated workflow with Orchestrator in less then 5 minutes.