The Google TV platform, while it showed a lot of promise, just wasn't what people expected. Google has been very slow in updating the platform and although there is some cool functionality, it's pretty far behind.
It seems the platform could die out or Google could be working on something to replace it. The Nexus Q seemed to be something of that nature, but they pulled the device from the market after getting lots of not-so-fantastic feedback.
LG seems to be disappointed with Google TV and is going the route of Open webOS. webOS died off a while back, but HP went on to make it open source and it looks like some people are taking notice. The biggest issue off hand with LG making it work is, number one, apps need to be ported over to the platform.
Thankfully, developers have already started the process. Another issue is the boot speed. The platform typically takes a while to boot up, but LG may go the route of keeping the hardware running and allowing users to turn off the screen. The TV would then enter into a low power mode whenever the screen was off which would make it consume very little power.
Either way, the South Korean company is committed to eventually rolling out a webOS powered TV and plans on debuting it at CES in January of 2013. Do you think webOS has potential to be a great TV platform?