I blogged on the new ECMA working group for standardizing the C++ binding for CLI last month. Last week, Herb Sutter blogged the candidate specification. And to answer the question I posed, it does appear that the double underscore syntax has been removed. Instead of "__gc class {...}", it's just "ref class". For __value and __property, you just lose the double underscore. Cool, though it does mean any MC++ code will eventually need to be migrated to the new syntax. Also. the specification is forward looking, including support for CLI generics.
Herb also blogged in depth on the new keywords as well as the gcnew operator.