A unique effort is underway between industry and the international physics community to extend the Telecom industrys Advanced Telecom Computing Architecture (ATCA and MicroTCA) to meet future needs of the physics machine and detector community. New standard extensions for physics are being designed to deliver unprecedented performance and high subsystem availability for accelerator controls, instrumentation and data acquisition. A key feature is a unique out-of-band imbedded standard Intelligent Platform Management Interface (IPMI) system to manage hot-swap module replacement and hardware-software failover. An additional goal is to achieve a much higher degree of interoperability of both lab and industry designed hardware-software products than past generations of standards. This presentation will describe status of the hardware-software extension plans; technology advantages for machine controls and data acquisition systems; and examples of collaborative efforts to help develop an industry base of generic ATCA and MicroTCA products in an open-source environment.