I tried to talk my way into borrowing it overnight, and of course they said no. But I did get to hold it in my hands and play with it for some time and I got to compare it to my Nook.
I really like the aesthetics of the Alex. It made the Nook look almost toy like. The Alex is a sleek black tablet with a lozenge shape very similar to the K2. There is a microSD card slot in the back and 2 speakers at the bottom of the back. The USB and headpohone jacks are on the upper edge. I know it doesn't look like it in the picture, but both devices have the same size epaper screen. I think the Alex's screen looks smaller because its LCD screen is so much larger. There wasn't much content on the Alex, so I wasn't able to test all its features. But I can say that its design was much better than the Nook.
I think the best way to describe the difference between the two is that the Nook was designed as an ebook reader, and the Alex was designed as a dual screen web tablet. The LCD screen on the Alex doesn't feel like it was an afterthought like it does on the Nook.