In Windows Server 2008 R2, Windows Server 2008 TS CALs and Windows Server 2008 RDS CALs will be treated as equal in all respects. So, if a customer has a Windows Server 2008 TS CAL, it will allow the same functionality (connection, experience etc.) as a Windows Server 2008 RDS CAL.
InstallationBecause they are compatible, you can install Windows Server2008 TS CALs on Windows Server 2008 R2 license server and Windows Server 2008 RDS CALs on Windows Server 2008 license server. Please note that in order to install Windows Server 2008 CALs on your Windows Server 2008 license server, you need to request your Technical Account Manager (TAM) or Escalation Engineer (EE) for KB 968074 and install it on the license server.
IssuanceYou can also issue a Windows Server 2008 TS CAL to a client connecting through Windows Server 2008 R2 Remote Desktop Server and issue a Windows Server 2008 RDS CAL to a client connecting through Windows Server 2008 Terminal Server.
[April, 2010: Article edited to clarifying naming.]