This is a fantastic idea. From an NBA press release:

NBA All-Star 2012 will play host to the BBVA Rising Stars Challenge, which will introduce an exciting new format to a game that has historically featured NBA rookies facing off against sophomores. For the first time, rookies and sophomores will be mixed together on teams. ...

TNT Analysts Charles Barkley and Shaquille O’Neal will serve as the general managers of two opposing teams, each with nine man rosters, consisting of NBA rookies and sophomores drafted from a pool that was previously selected by the NBA’s assistant coaches. ...

The pool of players will be announced on Feb. 8, followed by the live BBVA Rising Stars Challenge Draft on Thursday evening, Feb. 16. Fellow TNT Analysts Mike Fratello and Steve Kerr will be part of the coaching staffs for the teams, with Fratello joining TEAM CHUCK and Kerr joining TEAM SHAQ. The Head Coaches for both teams will be the lead assistant coaches from the 2012 NBA All-Star Game coaching staffs.