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According to the keynote at Google I/O, Google has been working with Netflix to get it working on Chromebooks. I would hope this means inside the Chrome browser everywhere.

I really hope it runs in all Chrome browsers.

However, at the very least, Linux users should now be able to run ChromeOS in a VM instead of Windows for Netflix.

Doubtful since Netflix already runs on several Linux devices, most notably the Roku, the Boxee Box and the WD Live TV. Just like with android devices it all comes down to built DRM which regular Linux distributions will not support.

they've already announced HTML5 support with chrome and native client.

How do they plan to do content protection in the <video> tag?

thats what I think they are using native client for security/DRM

http://code.google.com/p/nativeclient/

Is Netflix using WebM too?

it's not available for all of Android just yet - it is limited to a set of < 10 devices for now... so I'm guessing open Linux support is a while away