Cheetah (10.0)
Puma (10.1)
Jaguar (10.2)
Panther (10.3)
Tiger (10.4)
Leopard (10.5)
Snow Leopard (10.6)
Lion (10.7)
Cat names left unused:Cougar, Ocelot, Bobcat, Lynx, Serval
Apple still has quite a few years to go before running out of cats. Lynx and Cougar are both already trademarked by Apple. http://www.macrumors.com/2003/07/24/apple-trademarks-lynx-co...
Semantically, Cougar might be problematic (Cougar and Puma are the same animal) but it doesn't really matter--for instance, there's no actual cat species called "panther", it's just a generic name for big cats, and the black panther is just a subspecies of jaguar. (However, interestingly enough, snow leopards are a completely different species than leopards.)
There's other synonyms for "Cougar" you can put in there ("Mountain Lion") to extend the queue. In fact, Mountain Lion might be a minor upgrade on Lion just as Snow Leopard was a minor upgrade on Leopard.
EDIT: Fixed taxonomical error.
EDIT: Turns out "black panthers" can be melanistic jaguars OR leopards.
Incidentally, "Panther" was the first Mac OS X to be released in a black box instead of a white box, and they used shots of black panthers (the cat, not the political group) to promote 10.3. I think they were obviously playing with the allusion even then.
I'm sure Apple's brand is strong enough to overcome the current connotations.
My guess is that they'll stick with 10.x for some time and might eventually name their next major OS something like Mac OS X 11, even though it sounds silly. Or what about xOS (vs iOS)? Has a nice ring to it :)
I'm sure there has been countless meetings at Apple regarding this. I wish I was inside Steve's head...
OS 10 doesn't ring well with me, perhaps because I never really used any of the Mac OS versions that preceeded it and feel that OS X is not from the same family (being mostly NeXT with a reworked UI).
(Sorry, excessive whimsy. Won't let it happen again.)