Here's what we know about Android 5.1 right now

You can't go far in Android  forums today without seeing something about the launch of Android One in the Phillipines.

Only, the exciting part according to most folks has little to do with the two different phones being launched. Instead, it has been pointed out that these phones have Android 5.1 in the version number field of their settings panel. There are a few obvious questions that follow something like this.