Since it hasn't been released, and no specs announced, likely NO ONE here can say for sure.
Having said that, it is virtually certain that these VOD movies will be treated just like any other content, meaning that the receiver will downconvert the signal as necessary for your TV. The ONLY people who are likely to see a difference is those who have 1080p-input-capable TVs connected via HDMI.
The movies will almost certainly be in 1080/24P format, and TVs that can't accept such a signal will almost certainly have that signal converted to 1080/60i by the receiver. TVs that can accept 1080/24P signals, but can't process them correctly (5:5 pulldown for 120Hz, 3:3 for 72 Hz, etc.) will have their TVs convert the signal to a 1080/60 equivalent with 3:2 pulldown. Those newer TVs that correctly support 1080/24p signals will be among the very few who get any benefit from the whole thing. Realize that this is a tiny fraction of HDTV owners...
So, yes, for those few, 1080p VOD means a little something. For most, it's just a marketing tool.