Disney is out of touch is if they think legal ownership of intellectual property and some executive's signature on a piece of paper gives them the right to declare the Thrawn trilogy non-canon. It's one thing to say there are now two Star Wars universes; it is something else entirely to declare the original EU non-canon and slap these "Legends" labels on every good Star Wars book ever written.
At first I was thinking we should refer to them as the SWEU (Star Wars Expanded Universe) and SWCU (Star Wars Cinematic Universe), but with the number books coming out for the latter, it has already become an "EU" in its own right... just a different EU.
I propose the following solution: two Star Wars universes, EU1 (original) and EU2 (new), and we never mention the word "Legends" again except to explain things to someone who isn't using the EU1/EU2 terminology yet.