The latest blog entry at Change for America spills a few more beans:
http://changeforamerica.com/blog/archives/000074.html
By reading the tea leaves, here is what I think CFA will become: a grassroots campaign management consulting team for progressive candidates.
I think CFA will provide online organizing tools (ways to get a set of supporters, ways to announce your policies on a blog or website, ways to have supporters work together, ways to raise money in small amounts from lots of people, etc.) to progressive candidates.