Though true i do not own or opperate this game i have been keeping up to date on the evens involving the release of the new Burning Crusades. Though jokes of playing as gaint pandas have been thrown about after reading this has been disproven that the race will instead be Draenei. Though this has NOT been accepted or rejected it is really up to you do decide. A magizine (Computer Gamer i think) released and article SAYING this was true the editor went (in shortened terms) "ooh crap, we screwed up. We better get this cleaned up."
Though he did say his souces lead him to believe this to be true.
Some factors supporting this rumor are as follows:
Blizzard is seeking to balance out the ugliness and prettiness of the Horde and Alliance by adding the Blood Elves (a pretty race) to the relatively ugly Horde, and the Draenei (an ugly race) to the relatively pretty Alliance.
Considering that Outland will be an integral part of the Burning Crusade expansion, and the Blood Elves are one of the races in servitude to Illidan in Outland, it makes sense that another Outland race would also be involved for balance (which are Naga and Draenei).
(Most of this has been directly copyed from
http://www.wowwiki.com/Draenei to read more go here and look at links on the bottom