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Re:How to Watch Netflix in Ubuntu Linux by pavanky on Saturday March 16, 2013 @11:23PM (#5387971)
This came up on reddit a few days ago. The consensus was that there is dynamic library that is present on the ARM chromebooks which is used by netflix(and hence can not be used on regular x86 machines).

That said, it may be possible to reverse engineer it.

Re:How to Watch Netflix in Ubuntu Linux by jonny_eh on Saturday March 16, 2013 @11:40PM (#5388017)
I bet that this library references a unique DRM key in the Chromebook's hardware.