If you're curious about the name, Visual Fred was coined by Bill Vaughn, formerly of Microsoft. It's considered to highlight the sentiment that this really isn't VbClassic anymore, and perhaps should've been given a different name. Form your own opinion, after considering the differences.
http://www.mvps.org/vb/index2.html?rants/vfred.htm
I thought this was going to be a discussion of the DotNet version of ThePaperclip?