Earlier quoted context omitted.
io.js is a fork/continuation of Node.js "unstable" 0.11.x branch. Node.js stable, under Joyent's stewardship, has been stuck in 0.10.x land for over a year. io.js has many of the top core Node.js contributors. They're trying to move server-side JavaScript forward with open governance, faster release cycles, ES6, etc.
It will be interesting what Joyent will do with its 0.11 unstable branch and how popular io.js will get.
On the other hand, they've been saying that 0.12 will come out 'soon' for over a year, so this too may take longer than I expect.