I’m still not convinced completely (the news was announced on April 1st), but seems like ASP.NET MVC source code has been released under MS-PL license, a OSI approved open source license.
I’m excited today to announce that we are also releasing the ASP.NET MVC source code under the Microsoft Public License (MS-PL). MS-PL is an OSI-approved open source license. The MS-PL contains no platform restrictions and provides broad rights to modify and redistribute the source code.
Codeplex license is not updated yet, but at this point I guess ASP.NET MVC deserves a project of its own as the asp.net codeplex project...