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No your eyes aren't deceiving you. Overstock.com has won O.biz through RFP and plans to launch O.biz for a B2B site:
Overstock wins RFP for single letter .biz domain name.
Overstock.com o.bizIn the first material sign that the release of one and two character .biz domain names could be a boon for the .biz top level domain, Overstock.com has won the RFP for the O.biz domain name. The company will launch a B2B site for businesses to buy goods online at the domain name.
According to a press release, O.BIZ will primarily focus on restaurant, office, and hotel products.
http://domainnamewire.com/2009/09/14/overstock-com-to-launch-o-biz/