It’s officially called the ”navigation controller”, and they have the FCC filing to prove it. It’s a wireless and ”untethered” supplement to Move.
It’s basically PlayStation 3’s nunchuk. ”Used in most of the PlayStation®Move games that require navigating an in-game character, it replicates the control features of the left side of the DUALSHOCK®3 wireless controller into your PlayStation®Move experience.”
The official PlayStation website has been updated with the new name for the peripheral device, backing up the recent FCC paperwork that was filed. Both of the controllers will be hitting this fall when PlayStation Move goes on sale for PS3.
It will likely pickup the nickname navcon or navicon - because that’s how it goes.

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