The image shows a device with big top and bottom bezels, a front notification light, and dual speakers on the back. The rear-facing camera is there, as is the sideways Nexus logo. Also, note the odd placement of the front-facing camera.
Update: Side shot.
Another interesting tidbit revealed by the image is a SIM card slot on the lower left (when looked at from the rear). This would seem to indicate Google will launch a version of the new N7 with mobile data out of the gate instead of waiting a few months like last time. No way to confirm LTE support, but we can hope.