The
Pebble: E-Paper Watch for iPhone and Android is a Kickstarter project that was looking for $100,000 but they’ve raised over $6 million from more than 42,000 backers and still have 24 days to go in their campaign.
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Pebble is the first watch built for the 21st century. It's infinitely customizable, with beautiful downloadable watchfaces and useful internet-connected apps. Pebble connects to iPhone and Android smartphones using Bluetooth, alerting you with a silent vibration to incoming calls, emails and messages.
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The screen is described as "E-Paper", but the watch needs recharging once a week and the FAQ says:
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Q. Does it have a backlight? A. Yes, Pebble has a backlight to view the display at night.
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E-Ink, and so far as I know any type of E-Paper, must use a frontlight, rather than a backlight. Still, this is the best E-Paper watch so far.